Guaranty Bank & Trust N.A. and its parent company, Guaranty Bancshares Inc. announced the launch of the "Guaranty CommunityFirst Mortgage and Development Program."
Guaranty says the program will provide $1,000,000 in subsidized mortgage loans for residents in majority-minority census tracts in South Dallas and throughout the Dallas metro area. An additional $100,000 will be set aside for closing cost assistance and subsidies. The bank also claims it will provide up to $100,000 in financial support for South Dallas community partnerships that support homeownership, financial literacy education, and workforce training.
"At Guaranty Bank & Trust, we understand that homeownership is not only a personal achievement but also a foundation for stronger communities," said Ryan Coaxum, senior vice president and community development officer at Guaranty Bank & Trust. "The Guaranty CommunityFirst Mortgage and Development Program is our way of giving back and helping individuals and families achieve their homeownership goals while contributing to the strength of our community."
According to Guaranty’s website, the CommunityFirst program involves three pillars: affordable financing with competitive interest rates and flexible terms; closing cost assistance; and local expertise to offer support throughout the homebuying process.
Per a release from Guaranty, the program is “designed to empower individuals and families within our communities to achieve their dream of homeownership while fostering a stronger, more inclusive neighborhood.”