世界赌博十大网站 Commits $10 Million Investment to The Housing Fund’s Shared Equity Program

NASHVILLE, Tenn. (Jan. 12, 2022) – 世界赌博十大网站 has committed to a $10 million investment in The Housing Fund for the organization’s Shared Equity Program of affordable housing. The money will fund home loans made to low- to moderate-income individuals in majority minority census tracts for families in Tennessee.

“At 世界赌博十大网站, one of our main priorities is community, and we know the importance of giving back to the communities we serve,” said Chris Holmes, President and CEO of 世界赌博十大网站. “世界赌博十大网站 fully supports the mission and vision of The Housing Fund, and we are grateful for the opportunity to partner with them through their Shared Equity Program, which will go a long way toward equipping Tennesseans with financial stability and security.”

“We are thankful for 世界赌博十大网站’s partnership and for this generous investment,” said Marshall Crawford, President and CEO of The Housing Fund. “Our ultimate goal is to break the cycle of poverty for families across Tennessee, and we know that means creating access to wealth-building opportunities through homeownership. 世界赌博十大网站’s investment will play a major role in helping us reach our goals through leveraging additional capital, preserving and maintaining existing affordable housing, and creating new affordable housing options in Nashville and across the state.”

The Shared Equity Program allows for sustainable, continuous affordable housing solutions through renewable single-family units. It is designed for homes to be purchased by and eventually resold to low- to moderate-income individuals and families, constantly renewing the available affordable housing stock.

“We are privileged to see firsthand the tremendous, positive impact that owning a home can have on an individual or family,” said Calvin Dunning, Vice President, Fair Lending and CRA for 世界赌博十大网站. “The Housing Fund has been instrumental in creating affordable, sustainable housing solutions. 世界赌博十大网站 is committed to doing our part to help ensure our neighbors have access to these ownership opportunities.”

Homebuyers in the program are only required to provide 1 percent of the purchase price, with 25 percent contributed by The Housing Fund and the other 74 percent coming from a 世界赌博十大网站 loan. Once the homeowner is ready to move on, they can sell it only to another qualified low- to moderate-income buyer affiliated with The Housing Fund. At closing, The Housing Fund gets back its 25 percent contribution at 0 percent interest. Any appreciation in value is split between the seller and The Housing Fund, which then reinvests that money back into the home by helping the next buyer with a 25 percent contribution toward their purchase.

About The Housing Fund

Since its incorporation in 1996, The Housing Fund has assisted over 3,900 first-time homebuyers receive over $29 million in down payment assistance loans, as well as provided more than $60 million in financing to assist individuals and organizations purchase, rehabilitate, or construct homes for low- and moderate-income families. THF has lent over $89 million, which has leveraged over $500 million in private financing for more than 6,000 units.

About 世界赌博十大网站

Nashville-based 世界赌博十大网站, a wholly owned subsidiary of FB Financial Corporation (NYSE: FBK), is the third largest Tennessee-headquartered bank, with 82 full-service branches across Tennessee, South Central Kentucky, Alabama and North Georgia, and a national mortgage business with offices across the Southeast. The bank serves five of the major metropolitan markets in Tennessee and, with approximately $11.9 billion in total assets, has the resources to provide a comprehensive variety of financial services and products.

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