We no longer support this browser. Using a supported browser will provide a better experience.

Please update your browser.

Close browser message

Facing the Housing Affordability Crisis

When it comes to homeownership and rental opportunities, Black, Hispanic and Latino households, in particular, are facing a housing affordability crisis. Despite representing 77% of new households expected to form in the next decade, Black, Hispanic and Latino homeownership is less than 50% today. Our commitments are designed to address this inequity.

Our Commitment

We’re taking action to increase equity, affordability and access to housing by committing $8 Billion to increase homeownership and originating 40,000 home purchase loans for Black, Hispanic and Latino families. $4 Billion for refinance loans which will reduce mortgage payments for another 20,000 Black, Hispanic and Latino homeowners. Financing the creation and preservation of 100,000 affordable rental homes in underserved communities for renters.


Expanding programs for homeownership

We're making it easier for homebuyers in underserved communities to achieve homeownership through innovative homebuyer readiness programs and optimizing existing financial education services to better reach these communities.

Advocating For Comprehensive Hosuing Reforms


Advocating for comprehensive housing reforms

We're working with the U.S. Department of Housing and Urban Development (HUD) to modernize FHA servicing and origination, improve loss mitigation options, and simplify policies and procedures.

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

Stay Informed

Sign up to receive information about how we are using our expertise, data, resources and scale to help advance a more inclusive and equitable economy.