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In recent years, the United States has experienced the largest homeownership spread since 1890, with 44.6% of Black Americans owning a home compared to 74.2% of whites, a 29.6-point gap.
Only 45.3% of Black Americans owned their homes in 2022, compared to 74.6% of white people, according to NAREB.
The best mortgage lenders, including for first-time buyers, jumbo borrowers, self-employed borrowers and for low interest rates. Our picks include Rocket Mortgage, loanDepot, Chase, Better and more.
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Residents who meet credit score and income qualifications have access to a new $3,000 grant to help with a down payment.
The new special purpose credit program is part of efforts to reduce the racial gap in homeownership and offers assistance to borrowers who meet certain income and location requirements.