Financial Assistance For Homebuyers

The housing market is finally cooling, with experts predicting as much as a 15% drop in prices over the next year. But, the hurdles to becoming a homeowner are still high, especially for people of color. A recent US Treasury report shows a homeownership rate of 75% for White households, while it’s just 48% for Hispanic households and 45% for Black households. One way to tackle that homeownership gap is through financial assistance for homebuyers, such as homebuyer grants that can help more homebuyers overcome the biggest obstacles to homeownership, like down payments and closing costs. Natalie Torres-Haddad, author, and host of Financially Savvy in 20 minutes, is here with details and advice for those considering a first-time home purchase. Learn more at chase.com/affordable