Tolleson Private Bank is Proud to Partner with TDHCA for $12 Million Syndicated Loan Agreement

October 18, 2018 - Firm Update
2 Min read

The Texas Department of Housing and Community Affairs (TDHCA) entered into a $12 million syndicated loan agreement with Tolleson Private Bank, Woodforest National Bank and Hancock Whitney. This agreement provides more resources to help prospective, lower-income, first-time homebuyers in Texas with down payments and closing costs.

Tolleson Private Bank is active in finding ways to address the pressing need for affordable housing in the Dallas area. Building on the success of Woodforest’s 2016 loan agreement, Tolleson Private Bank pursued the opportunity to collaborate with Woodforest and make this partnership possible. Thanks to the excellent teamwork between these three banks, TDHCA was able to further its mission of providing low income families the ability to fulfill the dream of home ownership. The Bank’s commitment to give back to the community and help lower-income families made the partnership an easy fit.

The syndicated loan will unlock additional funds for qualified homebuyers. Additionally, the loan will help with resources for families and individuals to become more financially stable in the home-buying process. “Tolleson Private Bank is very pleased and proud to support TDHCA in its efforts to make the dream of homeownership a reality to so many deserving families in Texas through the My First Texas Home program. Texas is a wonderful place to call home and a true land of opportunity for the many hard-working families looking to set roots here,” said Steve Westerheide, Executive Vice President for Tolleson Private Bank.

“TDHCA is happy to collaborate with private industry partners in its ongoing mission to provide valuable home buyer assistance through it’s My First Texas Home program. Working with innovative institutions like Tolleson Private Bank ensures we are able to continue our successful track record as a safe, trustworthy funding source for families looking to call Texas home,” comments J.B. Goodwin, Board Chairman of TDHCA.

Woodforest National Bank made an announcement earlier this week about the partnership.