Dear HomeOwnership Partners,
Through the social reckoning that has taken place across the country over the past year, many social and economic disparities have been highlighted. One of the most dramatic is that the homeownership rate for People of Color is only about half of what it is for White homeowners in Massachusetts.
Owning a home has long been associated with the American Dream, and it is the primary way that families have built generational wealth in this country. But for far too long, people of color have been denied access to homeownership through redlining and other racist practices.
That is why MassHousing has set a new goal for our HomeOwnership lending: Over the next five years we intend to build up the percentage of MassHousing loans made to Persons of Color to 50%.
Today, thanks in large part to the shared commitment and hard work of our homeownership lending and nonprofit partners, 34% of our home mortgage loans are made to people of color. But we will do better. And we will need your help.
We invite you to continue this journey with us as we grow our commitment to homebuyers of color in the Commonwealth.
- View all of our 2022-2026 Strategic Business Goals
- Learn about MassHousing's Racial Justice Housing Agenda
Vice President of HomeOwnership Programs, MassHousing