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A Broad Coalition of Civil Rights, Consumer, and Housing Advocates Write to Highlight the Urgent Need to Include Targeted First Generation Down Payment Assistance (DPA) in the Build Back Better Act

October 26, 2021
Mortgage Lending
Letters to Congress

Congress cannot miss this once-in-a-generation opportunity to expand homeownership and create racial justice and equity. Targeted DPA is one of the most cost-effective strategies to shrink disparities in wealth and narrow the homeownership gap.1 More than half a million Black and Latino families could become first-generation homeowners thanks to this program even if funded at $30 billion over ten years. In this case, DPA would help 288,208 Black families; 223,649 Latino; 88,000 Native American, Asian American, and Pacific Islander families; and 249,398 white families achieve homeownership.