Wells Fargo has launched a new homeownership down payment program designed to help buyers purchase homes in majority Black census tracts.
The Homebuyer Access grant offers $10,000 toward home down payments in eight metro areas. In the northeast area, grants are available in eight metropolitan areas, composed of the following cities: New York City; Philadelphia, Camden, Newark, and Jersey City, NJ; Wilmington, De; Washington, DC, Arlington and Alexandria, Va; and the Maryland cities of Baltimore, Columbia, and Towson.
“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” said Kevin Reen, head of Wells Fargo Home Lending. “One of the biggest barriers to achieving homeownership is coming up with the down payment. We’re proud to make this dream a reality for families through our new $10,000 Homebuyer Access grant.
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