• July 16, 2024
• Bulletin No: 2024-22

The Federal Home Loan Bank of Dallas (Bank) has activated its Disaster Relief Program (DRP) in response to damage caused by Hurricane Beryl in Texas. DRP makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged or destroyed by a disaster event. 

Under the DRP:

• Funds are priced below the Bank’s regular Community Investment Program rates
• Income eligibility limits are expanded to 165 percent of the area median income
• Advance terms range from 3 months to 40 years

Texas counties currently eligible for individual assistance are Brazoria, Chambers, Fort Bend, Galveston, Harris, Jackson, Jasper, Jefferson, Liberty, Matagorda, Nacogdoches, Orange, Polk, San Jacinto, Walker and Warton. Due to the ongoing nature of this disaster, subsequent counties may be added. The current list can be found here. DRP advances are available today through January 16, 2025. Click here for more information on the DRP or contact Member Services at 844.FHL.BANK (844.345.2265).

In addition, as of July 15, 2024, $420,000 is available through the Bank’s Disaster Rebuilding Assistance (DRA) program. DRA grants provide funds for the repair and rehabilitation of affected owner-occupied housing in federally declared disaster areas. Funds are available until exhausted or November 15, 2024, whichever occurs first. For more detailed program information, including application forms, visit the Bank’s website or contact Community Investment at 800.362.2944.

Under the DRA:

• Grants are available through the Bank’s member financial institutions to homeowners who are at or below 80 percent of the area median income, in an amount up to $12,000 for repair and construction costs not covered by insurance or federal or state emergency assistance   
• Homes must be located within the counties listed in the link above or any counties that are subsequently declared by FEMA to be disaster areas that are eligible for individual assistance 
• Homeowners must have current ownership and must have had primary ownership of the home at least 30 days prior to the related disaster
• DRA is a grant and, as such, the funds are not repaid, and they are available on a first-come, first-served basis