Banks Partner to Award $488K for Rehabilitation of 72 Mississippi Homes

LAUREL, Miss. — The Laurel Housing Authority will be awarded $488,000 in Affordable Housing Program (AHP) funds from the Federal Home Loan Bank of Dallas (FHLB Dallas) and FHLB Dallas member The First, A National Banking Association, to provide housing rehabilitation assistance for 72 very low-income homeowners in Laurel, Mississippi.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions, like The First, A National Banking Association. AHP grants fund a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.

In 2017, FHLB Dallas awarded $7 million in grants, of which Mississippi received $1.5 million.

For more information, visit AHP.