Habitat for Humanity receives $2.48 million award to fund development in under-resourced communities
ATLANTA (June 19, 2023) – The U.S. Department of the Treasury recently awarded Habitat for Humanity’s community development financial institution, Habitat Mortgage Solutions, or HMS, $2.48 million through its CDFI Equitable Recovery Program. HMS will use the award to help Habitat affiliates across the U.S. further address the systemic barriers that have prevented many underserved populations, particularly Black Americans, from owning homes.
“Black families have historically been excluded from wealth-building opportunities through homeownership due to discriminatory mortgage lending practices, redlining and other systemic barriers,” said Daniel Gura, managing director of Habitat Mortgage Solutions. “By providing much-needed resources and support, we can move closer to addressing the ongoing racial wealth gap and improve economic mobility for more households of color.”
Habitat’s Advancing Black Homeownership initiative, which launched a year ago in June, expands efforts in communities across the country to increase homeownership opportunities for Black individuals and families. Since its inception, Habitat affiliates have been awarded more than $2 million in grants to deepen internal diversity, equity and inclusion programs and increase engagement in Black communities locally. Additionally, Habitat for Humanity International formalized a partnership with the National Fair Housing Alliance to provide concrete guidance and support to affiliates to ensure compliance with state and federal fair housing and fair lending policies.
Over the next four years, Habitat will invest more than $25 million through the initiative to advance new programs aimed at closing the racial wealth and housing gap, including first-generation down payment assistance, a national Black homeowner advisory group, and an equitable commercial lending strategy and property acquisition fund.
About Habitat for Humanity International
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in south Georgia. Since its founding in 1976, the Christian housing organization has grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.