HOUSTON, TEXAS – June 3, 2015 – (RealEstateRama) — Martha Vasguez, 61, a retired hairdresser, lives on a fixed monthly income after illness forced her to retire six years ago. Though her home is paid for, she does not have money left at month’s end to pay for necessary repairs.
Then she saw a story on the local news about the Special Needs Assistance Program (SNAP), which could help her get the deteriorating roof and flooring fixed on her 40-year-old home.
SNAP — offered by the Federal Home Loan Bank of Dallas (FHLB Dallas) through its member institutions — provides grants to assist income-qualified, special-needs homeowners with necessary home repairs and modifications.
“The roof was falling apart, and I didn’t have the money to fix it on my own,” Ms. Vasguez said. “It was leaking in all the rooms when it rained.” The incoming rain eventually damaged the floors, she said.
Rebuilding Together-Houston facilitates the SNAP program in Houston and helped Ms. Vasguez with her SNAP application. The nonprofit works to preserve affordable homeownership and revitalize neighborhoods by providing home repair and renovation services at no cost to low-income homeowners in need.
Ms. Vasguez qualified for a $4,807 SNAP grant, which was funded through Amegy Bank an FHLB Dallas member institution. “It was a blessing for me, a miracle, because right now, I’m not able to make an income, and I have medical issues,” she said.
Brian Stoker, senior vice president of Community Lending at Amegy Bank, said SNAP allows the bank to lend a helping hand to those in need.
“Amegy Bank has always had an active role in serving the needs of our community,” he said. “It’s been wonderful to partner with FHLB Dallas and Rebuilding Together-Houston to help families with emergency home repairs. It allows them to live more comfortably in their own homes,” he said.
Greg Hettrick, vice president and director of Community Investment at FHLB Dallas, has a uniquely broad view of housing needs across Texas and the Bank’s District, which also includes Arkansas, Louisiana, Mississippi, and New Mexico.
“We know there is tremendous demand to repair existing homes across our District, in addition to providing affordable housing options,” he said. “SNAP is one of the programs that allow our members to help income-qualified, special-needs homeowners with repairs they may not be able to afford on their own. It’s very worthwhile and rewarding.”
Since SNAP’s inception in 2009, nearly $9.2 million has been awarded in grants through FHLB Dallas member institutions to assist 1,846 families across the FHLB Dallas’ District. In 2015, FHLB Dallas will make $1.5 million in SNAP grants available. The first $750,000 was snapped up in 11 days in January. A second offering of $750,000 will be made available on August 3, 2015, through FHLB Dallas member institutions. To learn more about SNAP and other FHLB Dallas programs, visit fhlb.com.
About Amegy Bank of Texas
Amegy Bank is a leading Texas bank with nearly $14 billion in assets and about 2,000 employees. With more than 80 locations across Houston, Dallas, and San Antonio, Amegy is dedicated to serving Texas communities, families and businesses. Founded in 1990, Amegy has a strong tradition of relationship banking, local decision making and financial expertise. Amegy specializes in banking businesses of all sizes, and has the resources to provide financing, investment management, treasury management solutions, international banking, as well as other specialized services. Equally important, the Bank, or an affiliate in some cases, offers individuals and families a wide range of depository, lending, mortgage, wealth management, trust, and brokerage services. Amegy is a part of the Zions Bancorporation (NASDAQ: ZION) collection of great banks. To learn more about Amegy, visit amegybank.com or call 800.287.0301.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $36.9 billion as of March 31, 2015, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 865 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit fhlb.com.
Federal Home Loan Bank of Dallas