Latest news with #AffordableHousingProgram
Business Wire
2 days ago
- Business
- Business Wire
Media Advisory: Grand Opening Celebration of Senior Housing in Gravette, Arkansas
GRAVETTE, Ark.--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Arvest Bank will join Upward Housing and city dignitaries for a ceremonial ribbon cutting and grand opening celebration for Spavinaw Creek Senior Housing, an affordable housing development, at 1:00 p.m., Tuesday, June 24, 2025. FHLB Dallas and Arvest Bank awarded Upward Housing a $1 million Affordable Housing Program (AHP) grant toward the construction of the $7.3 million rental complex for residents ages 55 and older. Share FHLB Dallas and Arvest Bank awarded Upward Housing a $1 million Affordable Housing Program (AHP) grant toward the construction of the $7.3 million rental complex for residents ages 55 and older. The one- and two-bedroom apartments are reserved for residents with incomes that are 30 percent to 60 percent of the area's median income. The media is encouraged to attend the ceremonial ribbon cutting event and tour. Learn more about the AHP.
Filipino Times
06-06-2025
- Business
- Filipino Times
Pag-IBIG Fund maintains low housing loan rates through end of 2025
Pag-IBIG Fund announced that it is maintaining its low interest rates on housing loans until the end of 2025, continuing its efforts to make homeownership more affordable and accessible for Filipino workers. 'We are keeping our housing loan interest rates low to help more Filipino workers achieve their dream of homeownership,' said Secretary Jose Ramon P. Aliling, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and Secretary of the Department of Human Settlements and Urban Development (DHSUD). 'This forms part of DHSUD's renewed direction to expand the Pambansang Pabahay para sa Pilipino Program, in line with the vision of President Ferdinand R. Marcos Jr. to build a Bagong Pilipinas—where every Filipino has access to safe, affordable, and resilient communities. By keeping rates low, we make monthly amortizations more affordable, enabling more of our members—especially those who are minimum-wage earners and from low-income sectors—to finally move into homes they can truly afford.' Under its current terms, Pag-IBIG Fund offers housing loans at interest rates as low as 5.75% per annum for a one-year repricing period, and 6.25% for a three-year repricing period. Meanwhile, qualified low-income members may avail of special rates under the agency's Affordable Housing Program to purchase socialized housing units at just 3% per annum. Members may also enjoy loan terms of up to 30 years, helping keep monthly amortizations further within reach. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the agency's sound financial position makes the continued low rates possible. 'Pag-IBIG Fund's prudent fiscal management, strong collections, and high-performing loan portfolio continue to keep us financially sound, enabling us to finance our members' housing needs without external borrowing,' Acosta said. 'This allows us to maintain affordable rates and expand home financing access to more Filipino workers. As we fully support the government's housing thrust under the Marcos administration, we remain focused on helping more of our members—especially those in underserved sectors—secure homes they can call their own.' This announcement builds on Pag-IBIG Fund's strong performance in 2025. In the first quarter alone, the agency released ₱30.22 billion in home loans, benefiting over 20,000 members across the country. Additionally, Pag-IBIG Fund's total assets surpassed ₱1.1 trillion as of March 31, 2025, reflecting its robust financial standing and capacity to sustain long-term support for affordable housing finance.
Yahoo
05-06-2025
- Business
- Yahoo
Federal Home Loan Bank of Dallas and Wells Fargo Celebrate Grand Opening of Affordable Apartments
Rio Rancho, New Mexico, Senior Housing Development Received a $750K FHLB Dallas Grant RIO RANCHO, N.M., June 05, 2025--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), Wells Fargo Bank (Wells Fargo) and local dignitaries joined CC Housing, a subsidiary of Catholic Charities, on June 3 at the grand opening of Felician Villa Apartments I and II, a senior housing complex in Rio Rancho, New Mexico. FHLB Dallas awarded a $750,000 Affordable Housing Program (AHP) grant through member Wells Fargo to assist with construction. The 132-unit Felician Villa Apartments offer one- and two-bedroom units for people who are 55 and older. Amenities are designed to enhance residents' quality of life, with elevators, health and nutrition education, social activities and an on-site service coordinator. The development is located near shopping centers and medical facilities. "We are pleased to have been involved in this project, creating a wonderfully accessible community for people as they age," said Patty Parina, vice president and relationship manager in Wells Fargo's Community Lending and Investment group. AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. "Affordable housing for seniors is a long-term investment for Rio Rancho and allows older adults to live in a vibrant, service-adjacent community," said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. "We value Wells Fargo's participation in our affordable housing initiatives in New Mexico." In 2024, FHLB Dallas awarded $78.9 million in AHP General Fund grants to 41 affordable housing projects. The grants will help create 3,571 new or rehabilitated housing units. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program. About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit View source version on Contacts Corporate CommunicationsFederal Home Loan Bank of (214) 441-8445 Sign in to access your portfolio
Business Wire
05-06-2025
- Business
- Business Wire
Federal Home Loan Bank of Dallas and Wells Fargo Celebrate Grand Opening of Affordable Apartments
RIO RANCHO, N.M.--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), Wells Fargo Bank (Wells Fargo) and local dignitaries joined CC Housing, a subsidiary of Catholic Charities, on June 3 at the grand opening of Felician Villa Apartments I and II, a senior housing complex in Rio Rancho, New Mexico. FHLB Dallas awarded a $750,000 Affordable Housing Program (AHP) grant through member Wells Fargo to assist with construction. The 132-unit Felician Villa Apartments offer one- and two-bedroom units for people who are 55 and older. Amenities are designed to enhance residents' quality of life, with elevators, health and nutrition education, social activities and an on-site service coordinator. The development is located near shopping centers and medical facilities. 'We are pleased to have been involved in this project, creating a wonderfully accessible community for people as they age,' said Patty Parina, vice president and relationship manager in Wells Fargo's Community Lending and Investment group. AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the median income for the area. 'Affordable housing for seniors is a long-term investment for Rio Rancho and allows older adults to live in a vibrant, service-adjacent community,' said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. 'We value Wells Fargo's participation in our affordable housing initiatives in New Mexico.' In 2024, FHLB Dallas awarded $78.9 million in AHP General Fund grants to 41 affordable housing projects. The grants will help create 3,571 new or rehabilitated housing units. FHLB Dallas will announce 2025 grant awardees this fall. Learn more about the FHLB Dallas Affordable Housing Program. About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $109.9 billion as of March 31, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit
Yahoo
04-06-2025
- Business
- Yahoo
Federal Home Loan Bank of San Francisco Releases 2024 Impact Report
SAN FRANCISCO, June 04, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today released its 2024 Impact Report, which shines a spotlight on the privately capitalized cooperative wholesale bank's daily support for local financial institution members; $103.3 million in grants awarded for affordable housing, homeownership, and economic development; robust engagement with stakeholders; and a workforce empowered to meet the evolving needs of its members with agility and impact. 'Our 2024 Impact Report demonstrates the value we deliver to our members and the communities they serve,' said Joseph Amato, interim president and CEO of FHLBank San Francisco. 'Because of the financial services we provide to our members every day – including advances and letters of credit – we are able to invest directly in programs and initiatives that strengthen communities by increasing the supply of affordable housing, expanding access to homeownership, and fueling economic growth and opportunity.' In 2024, FHLBank San Francisco partnered with its members to award $103.3 million in grants for housing, economic development programs and other initiatives including: Affordable Housing Program (AHP) General Fund and Nevada Targeted Fund: $61.3 million in grants awarded to create, preserve, or purchase nearly 3,900 affordable housing units. WISH and Middle-Income Downpayment Assistance programs: $31.2 million in matching grants delivered to 791 first-time homebuyers. AHEAD economic development grants: $7.3 million in grants awarded to 84 nonprofits to support innovative, community-based economic development initiatives that strengthen local communities. FHLBank San Francisco members also accessed $1.4 billion in the Bank's discounted advances and letters of credit products to create nearly 1,100 owner-occupied and 2,900 rental housing units and to support other community lending and economic development activities, including funding small business loans. Together with its members – primarily community-based financial institutions – FHLBank San Francisco continues to make a positive impact across its three-state district of Arizona, California, Nevada, and other areas where its members do business. To learn more about how FHLBank San Francisco accomplishes its mission of providing members with reliable access to liquidity, essential financial services and expertise, and resources for housing and community and economic development, download the full 2024 Impact Report at About Federal Home Loan Bank of San Francisco The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient. CONTACT: Contact: Mary Long longm@ (415) 616-2556 Chris Hammond hammondc@ (415) 616-3763Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
