Affordable Housing Program

The First became a certified Community Development Financial Institution (CDFI) in September of 2010 and over the past 13 years, have made an investment of over $75MM in community development. The First Bank created the Affordable Housing Program in 2012. There is an in-house effort and an external effort to support the program. Our in-house down payment assistance program grant is through a partnership with another CDFI, Renaissance Community Loan Fund (RCLF), and it is for borrowers buying into a low to moderate income (LMI) census tracts or are for those considered LMI by HUD’s definitions. The borrowers can receive up to $10,000 if they meet the criteria.

Our external effort utilizes the Federal Home Loan Bank (FHLB) of Dallas Community Investment programs to support rehab, new construction, and disaster relief. These awards range from $5,000 to $12,000.

The below press release and video details our bank's achievement with obtaining the FHLB of Dallas CARE award. Winning this community driven award further speaks to making an impact with the affordable housing program.

• https://www.businesswire.com/news/home/20230609005432/en/Three-Banks-Recognized-for-Commitment-to-Community-Investment
• https://vimeo.com/816322133?share=copy