HELP Program
Thank you for your interest in the Homebuyer Equity Leverage Partnership (HELP) with the Federal Home Loan Bank of Dallas. Unfortunately, the funds available for this year have been distributed so we can no longer accept HELP applications at this time. We look forward to sharing information about the 2025 funds when they are available. Please reach out to a Mortgage Loan Officer for additional information and assistance.
Legend Bank is proud to offer the Homebuyer Equity Leverage Partnership with the Federal Home Loan Bank of Dallas.
Homebuyer Equity Leverage Partnership (HELP) is a program offered through Federal Home Loan Bank of Dallas (FHLB Dallas) members that assists first-time homebuyers who meet income requirements with down payment assistance and closing costs. FHLB Dallas set aside $4 million of its Affordable Housing Program General Fund for HELP, and the funds are awarded on a first-come, first-serve basis to qualifying households with income not exceeding 80 percent of the area median income.
It's Easy to Apply
HELP has a simple application process and flexible qualification criteria, so funds can quickly and easily be attained. We can provide you with more information about the application process for the opportunity to achieve the American Dream and purchase a home.
How Funds Can Be Used
HELP funds can be used for the following items:
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Closing costs
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Down payment assistance
Benefits
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Provides assistance to income-qualified, first-time homebuyers
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Up to $15,000 in funds per household
Homebuyer Requirements
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Only first-time homebuyers or homebuyers who haven't owned a home in the last three years are eligible for the program.
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HELP funds may not exceed $15,000 per homebuyer.
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Household income must not exceed 80 percent of the area median income.
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Homebuyers are required to complete a Homebuyer Counseling Program.
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Homebuyers must contribute $500 of their own funds toward the required down payment or closing costs.
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Homebuyers cannot receive any cash back at closing.
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Homebuyers are required to sign a five-year retention agreement.
How To Get Started
To get started, complete the Legend Bank online home loan application. A mortgage lender will contact you for additional information to determine HELP eligibilty.