By Brianna Crane
The U.S. Black homeownership rate (45.9%) is nearly 30 percentage points lower than the white homeownership rate (73.8%), per the latest from the Federal Reserve.
To help close the gap, there are a number of local programs and tools geared toward helping people buy homes, including:
- The Dearfield Fund: Black first-time homebuyers may receive up to $40,000 in down payment assistance through this fund.
- metroDPA: Those making less than $188,250 with 640+ credit can qualify for down payment assistance.
- The Denver Financial Empowerment Center: You can receive free financial coaching.
Of note: HUD has a variety of homeowner education tools, from figuring out how much house you can afford to finding aid for home repairs.