NFHA, September 30, 2021, Civil Rights, Consumer Protection, and Housing Policy Organizations Applaud Senator Raphael Warnock’s Introduction of the $100 Billion Downpayment Toward Equity Act, Call for Its Immediate Passage
Following Senator Raphael Warnock’s (D-GA) introduction of the Senate companion to the Downpayment Toward Equity Act, which would allocate $100 billion in funding for first-time homebuyers, the National Fair Housing Alliance, the National Coalition for Asian Pacific American Community Development, the National Urban League, the National Community Reinvestment Coalition, the Center for Responsible Lending, UnidosUS, and the Leadership Conference on Civil and Human Rights issued the following statement:
“Homeownership remains one of the most important drivers of wealth creation, yet it remains elusive for many socially and economically disadvantaged families. Our organizations applaud Senator Raphael Warnock and Senate Banking Committee Chairman Sherrod Brown (D-OH) for introducing the Downpayment Toward Equity Act in the U.S. Senate. If enacted, this crucial targeted down payment-assistance legislation has the potential to create 5 million first-generation homebuyers, including 1.7 million Black and 1.32 million Latino borrowers.