Securing Your Legacy: Supporting Homeownership as Foundational to Generational Wealth Building

Owning a home has long been considered one of the most reliable ways to build wealth. Beyond providing shelter, a home is a valuable asset that can appreciate over time, build equity, and serve as a financial resource for generations. For most Americans, homeownership is a critical pillar of generational wealth that anchors families, supports long-term financial stability, and fuels local economic growth.

Yet the path to homeownership is not always easy. High interest rates, limited affordable housing stock, and expensive insurance premiums and repair costs have made it challenging for many families to access or maintain homeownership. At JPMorganChase, we recognize that a strong economy starts in the communities where people live. We are committed to helping more people access the benefits of homeownership and build wealth.

Expanding Access: Community Housing Capital (CHC) and Community Self-Help

Buying a home is increasingly difficult for many low and moderate income (LMI) families. Climbing mortgage rates and rising home prices have pushed the cost of homeownership out of reach, and with affordable housing options limited, families are forced to compete for a small number of available homes. Many LMI buyers find it hard to qualify for conventional mortgages, leaving them with few pathways to build equity or achieve long-term financial stability. Without access to flexible, affordable financing, these tough market conditions can make homeownership feel unattainable and widen the gap in wealth and opportunity.

Community Housing Capital (CHC), a national CDFI that lends to organizations developing affordable housing across the country, is working to close this gap. Since its founding in 2000, CHC has provided over $1.29 billion in financing, helping to create nearly 25,000 affordable homes in 44 states. Through a new $12 million loan from JPMorganChase, CHC is piloting a program that helps local nonprofits offer affordable mortgages to LMI homebuyers. Once the mortgages have a history of on-time payments, the nonprofits can sell them in the secondary market and use the proceeds to support additional families. By providing more flexible financing options, CHC is enabling more people to buy homes, build wealth, and create stronger communities for the future. 

We have also provided philanthropic support to organizations advancing homebuyer readiness coaching programs, innovative models for building savings and improving credit scores, as well as various down payment and closing cost assistance programs.  For example, our support helped Center for Community Self-Help create and pilot its Inspire100 mortgage product, which features a high loan-to-value ratio. This standardized product aims to reduce the downpayment and closing costs barriers to homeownership for low-wealth households. Since its launch in Q3 2023, the Inspire100 mortgage has been originated by a number of participating CDFIs across the nation, resulting in over 170 loans to date.

Building a Stronger Future

Homeownership is a powerful tool for building generational wealth, but it requires overcoming financial and market barriers. By supporting initiatives like affordable mortgage programs through organizations like CHC and Center for Community Self-Help, we’re helping families secure their financial futures and strengthen communities. Moreover, we recognize that fostering sustainable communities involves not only facilitating access to homeownership but also ensuring that families can maintain and thrive in their homes over time.

At JPMorganChase, our commitment to support wealth creation for all extends beyond homeownership. Whether it’s starting a business, securing a well-paying job, or achieving financial stability, we’re here to help people realize their financial aspirations. Together, we can remove barriers to wealth creation and help every family build a legacy for generations to come.

The metrics in this article are derived from a variety of public and private sources, including data that were self-reported by JPMorganChase philanthropic capital recipients. JPMorganChase has not independently verified these data and makes no representation or warranty as to the quality, completeness, accuracy or fitness for a particular purpose. The metrics as reported are not directly tied to funds or other support provided by JPMorganChase but rather are a result of a variety of factors.

JPMorgan Chase & Co. and its affiliates are not responsible for, nor provide or endorse third party products, services or other content referenced herein.