Affordable Home Loan and Savings

On September 7, 2016 the Dallas based nonprofit mortgage company DNH decided to start a loan program for low-income families living in Southern Dallas. The DNH which stands for Dallas Neighborhood Homes started working on the program, with the company Dallas Area Habitat for Humanity. To make the idea work, Nexbank which is a Dallas bank decided to contribute a loan of $50 million dollars.

Counseling will be provided to people that have mortgage problems, or who can’t afford one. Dallas Areas Habitat for Humanity will guide the individuals through the financial system of home ownership. Nexbank will give their full participation by paying $2000 dollars’ worth of title fees, and closings per loan. Mike Tribuna, the vice president of the mortgage company Dallas A Real Habitat for Humanity said that, the loan program will help improve Dallas’s economy status; the program will raise the percentage of homeownership, and the state will be wealthier.

On December 1, 2015 Nexbank merged with College Savings bank to start a savings program for families who need the help, families who need to save money for their children’s college fund. According to Matt Siekielski, the vice president of Nexbank said that starting this program would help them grow even more; also, because so many of their customers would get the help they need. John Holt, the president of Nexbank also said that the merger helps both companies with their funding ideas. College Savings Bank is currently a division of Nexbank.

Nexbank and College Savings Bank came up with a professional collaboration that really helps the financial situations of the nation. The plans, and the project they have regarding home owners and college students are futuristic, productive, and progressive. In a country like the U.S. where some financial help is sometimes needed, the accessibility of certain services, like financial counseling puts the nation on the road to more wealth, and innovation.