Peoples State Bank announces HELP funds for first time home buyers

Peoples State Bank is pleased to announce that the Homebuyers Equity Leverage Partnership Program (HELP) grant funds are now available thru the Federal Home Loan Bank (FHLB) of Dallas. These funds are available to qualifying first time homebuyers until Dec. 31 or until funds are exhausted.

As of Jan. 3, $1,000,000 is the overall total of HELP funds available with $40,000 available to each member bank. This means Peoples State Bank has up to $40,000 overall available that can be utilized in assisting qualifying first time homebuyers with down payment and closing cost assistance. The maximum HELP award per household is $5,000. Homebuyers must contribute at least $500 of their own funds toward the required down payment and closing cost. The maximum contribution from Peoples State Bank per household is $350. Please remember that funds are disbursed on a first -come –first serve basis.

Those interested in receiving grant funds should apply in person at any full service Peoples State Bank location for a loan to purchase their home. The program requires that the recipient obtain a loan through a FHLB member institution. For more information on the HELP Program or to see if you qualify please contact a loan officer at the Peoples State Bank nearest you.

Phone numbers for their various locations are Bowie County – 903-838-2300, Caddo Parish 318 -938-5336, DeSoto Parish 318-872-5800, Natchitoches Parish 318-238-4401 or 318-238-4471, Rapides Parish 318-445-3717 or 318-448-2430, and Sabine Parish -- 318-256-2071