Affordable Housing

Woodforest, while not a mortgage originator, expands access to affordable, quality housing by creating strong community partnerships with organizations who promote homeownership as a wealth-building opportunity in the communities we serve. We lend and invest in a variety of non-profit and government organizations that have expertise in financing and development of affordable housing for low- and moderate-income residents. Further, Woodforest's strong network of retail branches not only volunteers thousands of hours per year to provide financial education to potential home buyers, but also serves on the boards and committees of many local affordable housing organizations.

Wealth Building Through Homeownership

Beginning in 2016 Woodforest entered into a public-private partnership with the Texas Department of Housing and Community Affairs (TDHCA).

Since 2016, Woodforest has provided:*

$22 million

Total Capitalization for TDHCA's Down Payment Assistance and Closing Cost Program

$17.5 million

in Total from

2 Low-Interest Loans provided by Woodforest

$4.5 million

Syndicated from

Other Banks

Enabled Over:

2,800

Low- to Moderate-Income (LMI)

First-Time Texas Home-Buyers

Triggered:

$500 million

in Aggregate Mortgage

Lending

*Information accurate as of 09.01.20.


This DPA capital helped drive residents' overall mortgage costs to below-market rates, thus making affordable housing more affordable, while ensuring safe and decent housing for thousands of Texas residents. Woodforest is proud to have been the driving force to ensure our limited capital directly drove results, helped create more affordable financing, and helped first-time LMI Texans become homeowners.

Visit TDHCA My First Texas Home for more information.

The impact of Our Partnership with TDHCU's My First Texas Home Program 2016-2017
 

American Bankers Association's® 2017 Community Commitment Award

Affordable Housing

Woodforest urges and invites other financial institutions to join us in addressing the ongoing and urgent need for down payment and closing cost assistance.


Partnering with Neighborworks® America

In addition to our partnership with TDHCA for down payment and closing cost assistance, Woodforest teamed up with NeighborWorks America to offer housing counseling training for HUD approved housing counseling organizations. This includes organizations that needed to comply with Dodd-Frank requirements whereby all housing counselors needed to become certified. Woodforest hosted three training sessions (Chicago, Houston, and Washington D.C.) and provided scholarships to over 98 housing counselors from across our 17 state footprint.

Affordable Housing Contacts

Doug Schaeffer

EVP and CRA Executive Director

dschaeffer@woodforest.com

(212) 203-1428

Daniel Galindo

SVP, Director of Community Development and Strategy

dgalindo@woodforest.com

(210) 862-0511

See more of our CRA Team

Woodforest National Bank

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