Diversity inclusion and equity

What we are addressing

Racism in homeownership is a tragic part of American history and still affects today’s homebuyers of color. The racial housing segregation policy, known as Red-Lining, implemented in 1934 and outlawed in 1962, created structural barriers for people of color who wanted to own a home during that time. Those barriers caused a snowball effect, producing profound inequalities for today’s generation. The racist homeownership policies of the past caused diminished homeownership, diminished home equity, and overall economic inequality for Black and Hispanic families during that time. Due to the reduced knowledge and wealth typically transferred from generation to generation, past policies have created a tremendous financial strain among today’s generations of people of color, further restricting a family’s economic mobility.

Closing the racial homeownership & wealth gap

Homeownership has long been the primary saving mechanism for low and middle-income families and can be a stepping stone to a more prosperous future. African American and Hispanic families are not on the same wealth-building path as White families. Because they are less likely to own homes and fund their retirement accounts, they miss out on those traditionally powerful wealth-building tools. Wealth provides much more to families than just money in the bank. It serves as an insurance policy during hard times, pays the tuition needed to get a better job, brings stability, confidence, pride, and increased community involvement. It’s a springboard into the modern middle class.

We have a long-term commitment to increasing the homeownership and wealth opportunities for underserved communities through promoting and expanding education and affordable home-buying options. We believe that every business can positively impact the lives of its employees.

Three Keys in Increasing Homeownership and Advancing Equity

Below is our three-point framework designed to reduce the gap across the housing spectrum by helping employees in underserved communities benefit from potential financial assistance, inclusive growth and the knowledge needed to not only buy a home but also sustain it through economic downturns.

1. Establishing the possibility of homeownership

Through our recently expanded list of classes, financial fitness consultations and tools, we are making a greater investment in homeownership education and counseling for underserved communities.

2. Making home-buying more affordable

There are more than 3000 down payment assistance programs Nationwide. We help eligible employees gain access to these programs, as well as other zero-down and low-down-payment options. Our goal is to understand the employee’s needs and help them through the entire process so you can they prepared and confident.

3. Continuing homeownership support

When the employee becomes a homeowner, the support doesn’t stop there. We make refinance options available so employees can take advantage of reduced loan rates, eliminate PMI, consolidate debts, and more. In addition, employees have access to homeownership counseling programs that can provide guidance during financial difficulties.