The Freedom Bank Foundation Launches New Down Payment Assistance Program to Address Housing Affordability in the Region

The Freedom Bank Foundation Celebrates raising Over $500,000 to Benefit Underrepresented Entrepreneurs and Families in Northern Virginia and Growing its Platform for Greater Impact

FAIRFAX, Va., Dec. 23, 2025 /PRNewswire/ -- The Freedom Bank of Virginia announces the Freedom Bank Foundation's new initiative, the Freedom Down Payment Assistance (DPA) Program administered by its CDFI partner, Latino Economic Development Center (LEDC).

The Foundation's NOVA Freedom Fund provides financing and technical assistance to underrepresented entrepreneurs and now families in the DC Region. Since 2021, the Foundation has raised over $500,000 and has provided capital and assistance to seventeen local entrepreneurs.

"We are thrilled to announce that the Foundation has signed a new MOU (Memorandum of Understanding) with LEDC and has now officially launched the Freedom Down Payment Assistance (DPA) Program.  We appreciate the hard work of the team at LEDC who have administered the Fund on the Foundation's behalf, and are excited to take the Foundation to the next level by adding the DPA program. Our talented Mortgage Banking team has used grant vehicles from other providers. This new program will expand the Fund's reach from helping entrepreneurs with their businesses, to now helping families achieve their dreams of homeownership, a key pillar of financial stability," said Joe Thomas, the Freedom Bank of Virginia President and CEO. The Foundation looks forward to using the funds raised from this year's 4th Annual Empowering Dreams Gala to make an even larger impact in our Northern Virginia community through the DPA program.

"At LEDC, we center our work on catalyzing economic advancement by bridging the gap to capital, opportunity, and long-term financial stability for low- and moderate-income families. This renewed partnership expands the Freedom Bank Foundation's support for first-time homebuyers by reducing the upfront financial barriers that often prevent families from accessing homeownership.

LEDC brings extensive experience in housing counseling, homebuyer education, and down payment assistance. LEDC has been a HUD-approved Housing Counseling Agency since 2008 and a U.S. Treasury–certified Community Development Financial Institution (CDFI) since 2003. We are proud to partner with the Freedom Bank Foundation to help more people overcome  barriers, build assets, and take meaningful steps toward long-term economic mobility and homeownership," said Emi Reyes, LEDC CEO.

The Freedom Bank Foundation is a nonprofit, tax exempt charitable organization under Section 501(c)(3) of the Internal Revenue Code. Businesses or individuals who are interested in learning more about the Foundation or the NOVA Freedom Fund are asked to contact freedombankfoundation@freedom.bank or visit freedom.bank/foundation.

About Freedom Bank

Freedom Bank is a next-generation community bank, headquartered in Fairfax, Virginia, offering commercial banking, personal banking, and mortgage banking solutions using banker expertise and innovative technology to build lead relationships with clients. Focusing on businesses, real estate owners, and professionals, Freedom Bank concentrates on key industry verticals to deliver unique, sector-specific solutions to help clients meet their goals and realize their dreams. Freedom Bank has sales office locations in Fairfax, Vienna, Reston, Manassas, and Chantilly, VA with a new Tysons location scheduled to open in early 2026. The Freedom Bank Mortgage Division is headquartered in Chantilly, VA. For information about Freedom Bank, visit our website at www.freedom.bank.

Contact:
Joseph J. Thomas
President & Chief Executive Officer
Phone: 703-667-4161
Email: jthomas@freedom.bank

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SOURCE Freedom Bank of Virginia