Federal Home Loan Bank Application Approved

Neighborhood Housing Services of Kansas City Inc. (NHS) is pleased to announce that their application to the Federal Home Loan Bank of Des Moines for funding under the Affordable Home Program (AHP) has been approved. NHS will receive $283,000 to provide additional financing for acquisition/rehab projects in Kansas City.
“We are very pleased with the announcement” stated Mark Stalsworth, President/CEO of NHS. “This was our first application under AHP, and we understand that it is difficult to be approved the first time you apply.”
The funds awarded will be used to make homes more sustainable and affordable for low income households. These funds will fill the gap between what it costs to acquire and rehabilitate a home, and what it can be sold for after rehabilitation is complete.
“We structured our request to focus on foreclosed and abandoned properties,” said Angie Splittgerber, NHS Board Chair. “We will use these funds to help rehab donated properties and properties that we receive through the Kansas City, Missouri, receivership process, which allows non profits to help remove blight and obtain and repair nuisance properties.”
Through their HUD approved Homeownership Education classes, NHS will identify possible buyers of these homes and provide credit counseling if needed. NHS will also provide home mortgages to qualified buyers. “Being a NeighborWorks® HomeOwnership Center really makes this a good experience for the buyer,” said Marjorie Major, HomeOwnership Center Manager. “Buyers can attend class, receive counseling, apply for a mortgage, and buy a house from a single entity. This is a real one-stop-shop.” Neighborhood Housing Services is a Licensed Mortgage Broker, and all loan applications are accepted by Licensed Mortgage Loan Officers.
To register for a Homeownership Education class where you can learn more about NHS programs, please visit the NHS website, www.nhsofkcmo.org. For additional information about applying for a Neighborhood Housing Services Home Loan, please call Marquetta Broome at 816-822-7703, Extension 212.
Neighborhood Housing Services is a NeighborWorks® Charter Member, and is located at 5835 Troost, Kansas City, Missouri 64110. Its mission is to revitalize and maintain urban neighborhoods as vibrant areas that attract people who value diversity, historic architecture, security and community.
If you would like to assist with supporting the programs and services offered by Neighborhood Housing Services, donations may be sent to the NHS offices. Persons interested in volunteering may contact Rob Rawlings at 816-822-7703, Ext 211.
Please visit our website at www.nhsofkcmo.org for more information about Neighborhood Housing