The article highlights the importance of down payment assistance for Black residents seeking homeownership in Miami, referencing a new initiative by OneUnited Bank. The bank's Lift Up Homeownership Program offers forgivable loans up to $50,000 to help first-time homebuyers, especially from marginalized communities like Black, Latino, Native American, and ethnic groups from the Pacific Islands. This financial support aims to alleviate barriers to homeownership, fostering generational wealth and stability in a population often facing economic challenges. The broader aim emphasizes the role of such assistance in strengthening the Black middle class.
Black-owned OneUnited Bank is launching the Lift Up Homeownership Program, offering forgivable loans to help first-time Black, Latino, Native American, and Asian homeowners make down payments.
While not every Black person has the privilege of receiving assistance in buying a home, down payment support is vital to building wealth and stability in the Black community.
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