Once again, the University District Development Corporation (UDDC) is accepting requests from eligible homeowners in the University District interested in participating in the Federal Home Loan Bank of Dallas' Special Needs Assistance Program ("SNAP"). Please forward the information below to your neighborhoods. Thanks.
FHLB / SNAP Program Eligibility Guidelines
SNAP funds provide up to $5,000 toward minor repair costs for homeowners age 55 or older or those having a documented disability and income of 80 percent or below the median income for the area.
The amount of income allowed under the SNAP program is adjusted for household size and cannot exceed the median income for University District. Income limits for homeowners are $33,700 (1-person), $38,500 (2-people), $43,300 (family of three), $48,100 (family of four).
The UDDC partners with local member banks and makes funds available to homeowners in the University District. Approved requests by the UDDC and local member banks does not guarantee funding of a homeowner's request. Final approval must be given by the Federal Home Loan Bank of Dallas and is subject to funding availability. Homeowners receiving the grant must stay in their home for five years for the loan to be fully forgiven.
For more information contact Barrett Allen at 501-683-7361or blallen@ualr.edu.
Posts
