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Facing the Housing Affordability Crisis

We are expanding access to credit through our products and programs, creating awareness and dispelling myths about homeownership, and participating in policy reform to further foster inclusive growth. Additionally, we are working with public and private resources to support the creation and preservation of affordable rental housing.

Our Progress

The Racial Equity Commitment’s 2023 progress continued to be driven by our affordable housing commitments, where we invested and financed billions of dollars to help preserve and create affordable rental housing. 

To learn more about our progress, see our 2023 ESG Report.


Expanding Programs for Homeownership

We have increased access to credit through a wide array of products and programs to help homeowners achieve maintainable homeownership, including by expanding our Chase Homebuyer Grant up to $7,500 in select areas. Additionally, approximately 1,400 lending advisors serve all customers, including customers in low-and-moderate income communities.

Advocating For Comprehensive Hosuing Reforms


Increasing our Original Commitment

After meeting our $400 million commitment toward Low Income Housing Tax Credit investments, we have increased our Racial Equity Commitment to include an incremental $400 million annually, totaling $2 billion over five years in investments towards the construction and rehabilitation of affordable rental housing.

Expanding Finance For Affordable Housing And Preserving Affordable Rents


Increase Funding for Affordable Housing 

We're increasing funding for the construction and rehabilitation of affordable housing for low- and moderate-income households by $2 billion, and have committed $500 million in affordable housing preservation funds.

Row of large old Victorian style detached brick houses with gables


Invest in Vital Community Institutions and Services

We’re providing over $300 million in additional financing to Community Development Financial Institutions (CDFIs) to support communities that lack access to traditional financing, as well as an additional $100 million in New Markets Tax Credits (NMTC) financing annually until 2025 with a focus on minority communities.

Cerita Battles, Head of Community and Affordable Lending, Chase
Structural barriers in the U.S. have created profound racial inequalities in homeownership among Black, Hispanic and Latino households.  We've enhanced our products, expanded our presence and hired new community home lending advisors to help advance sustainable and affordable homeownership.  We’ll continue partnering with the private and public sectors – at the federal, state and local levels – to help close the racial wealth gap and ensure every community in the U.S. has the opportunity to thrive.

Mark O’Donovan, CEO of Home Lending and Executive Sponsor of the Racial Equity Commitment

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