JPMorgan Chase confirms $12 million commitment to housing affordability

JPMorgan Chase has committed another $12 million to five organizations working to increase the supply of affordable housing and homeownership, particularly in Black, Hispanic, and Latino communities.

The philanthropic capital is part of the firm’s $400 million five-year commitment to addressing the housing affordability gap by using its business, data, policy and philanthropic resources. According to a release, the organizations that will receive the philanthropic money include:

• Atlanta Neighborhood Development Partnership ($2.5 million)
• Center for Community Self-Help ($2.5 million)
• Promoting increased diversity in the appraisal industry; ($2 million)
• Grounded Solutions Network ($2.5 million)
• The Housing Partnership Network ($3 million)
• Parity Homes ($2 million)

“Owning a home is a key factor to providing family stability and building generational wealth, but out of reach for far too many people, especially Black, Latino and Hispanic households,” said Abigail Suarez, head of neighborhood development at JPMorgan Chase. “Today’s announcement will help address current barriers to homeownership and allow more families access to wealth-building opportunities.”