JPMorgan Chase has announced a $400 million nationwide philanthropic commitment to close the housing affordability gap for Black and Latino households.
The investment is part of the banking giant’s $30 billion commitment to help advance racial equity and drive an inclusive recovery. JPMorgan Chase’s new $400 million philanthropic commitment includes addressing housing stability, affordability, and wealth creation.
Jamie Dimon, Chairman, and CEO, JPMorgan Chase & Co. said: “We’re trying to address some of the barriers to affordable housing and homeownership to help provide family stability and build generational wealth for Black and Latinx families. Whether you rent or own your home, more families deserve fair, sustainable, and accessible options, and businesses have a responsibility to develop housing solutions for those who lack access to opportunity.”
The bank seeks to create more affordable and sustainable homeownership paths.
A new Chase Community Home Lending Advisor will help more people realize their homeownership dreams and engage with industry partners and regulators to find ways to address the gaps in the residential appraisal process.
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