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New Mom Happy Her Daughter Will Grow Up With a Fenced Backyard

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STAMPS, Ark., July 2, 2013 (GLOBE NEWSWIRE) -- Heltina Henderson moved into her first home last month.

It's a dream she's had for a long time -- even at the tender age of 21.

"I've actually been wanting to own my own home for a long time, but I wanted to be sure I was steady on my feet," Ms. Henderson said. "I just had a baby, and I have a job, but it doesn't pay as much as I'd like it to."

Ms. Henderson, who works at an area nursing home, grew up with her grandmother in a manufactured home. She then moved into a manufactured home that needed extensive repairs, which led her to look into buying her own home.

Ms. Henderson said her initial efforts to find a house were disheartening because she just didn't have enough money for a down payment, and with the expenses of a newborn, homeownership appeared to be out of her reach. But then her real estate agent told her about the Homebuyer Equity Leverage Partnership (HELP) grant.

The Federal Home Loan Bank of Dallas (FHLB Dallas) offers HELP grants through participating members, such as Peoples Bank. The grants provide up to $5,000 to assist income-qualified homebuyers with down payments and closing costs.

The grant brought homeownership into reach for Ms. Henderson. She said since her experience, she's had others ask her about the grant and how it works. She has only good things to say about it and Peoples Bank. Kristen Reeves, assistant vice president at Peoples Bank, was instrumental in making everything run smoothly and keeping Ms. Henderson informed throughout the grant application process, she said.

Ms. Reeves said partnering with FHLB Dallas on HELP grants puts a human face on the financial services industry.

"It's such a pleasure to see the joy that first-time homeownership brings to people," said Ms. Reeves. "As a bank, the opportunity to help our area citizens with one of life's most important purchases is what makes this job so rewarding."

Ms. Henderson said she's happy that she got her three-bedroom, one-bath house with a two-car carport for more than $10,000 below the asking price. The house is move-in ready as the previous owners did a lot of updates, including new flooring and paint. After she settles in, Ms. Henderson plans to close off a portion of the carport and add a laundry room.

She's also thrilled that her home has a fenced backyard.

"I'm sure she will love her house," Ms. Henderson said of her daughter, now 6 months old. "I grew up with a yard at my granny's but it wasn't fenced so I wasn't allowed to go out and play as I pleased. She'll be able to play as she pleases."

Since its inception, FHLB Dallas has awarded more than $13.3 million in HELP grants. For 2013, FHLB Dallas has made available $1 million in HELP funds through its members.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $31 billion as of March 31, 2013, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.

CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445

Source:Federal Home Loan Bank of Dallas