Veterans United Home Loans Responds to Realtor.com®’s “Closing the Gap Challenge”
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real estate agent.com® to match Veterans United Home Loans’ $100,000 donation to the Homeownership Council of America’s new Equity DPA fund
COLUMBIA, Mo.–(BUSINESS WIRE)– In April, Realtor.com® challenged the real estate industry to join its Closing the Gap challenge to help overcome inequality and the history of discriminatory practices blocking homeownership for underserved and underrepresented communities.
Today, Veterans United Home Loans announced that it has taken up the challenge with a $100,000 donation.
“Veterans United are delighted to accept the challenge from our friends at Realtor.com® and do our part to encourage other organizations to join us,” said Veterans United Marketing Director Kris Farmer. “Veterans United’s mission is to help our nation’s heroes realize the American Dream of homeownership. We want to do our part to ensure that people of color and low-to-moderate income homebuyers, including our country’s veterans, continue to have better access to the housing market. In times of economic hardship, these issues are even more important to all of us. »
real estate agent.com® will match the Veterans United Home Loans Equity DPA fund donation with an additional $100,000. The challenge is part of Realtor.com®s’ “Closing the Gap Program” which tackles the disparity of home ownership in America. The Homeownership Council of America (HCA) Down Payment Assistance Fund supports Black, Indigenous and Color (BIPOC) and low-to-moderate income homebuyers.
Homeownership rates for communities of color are; Blacks and African Americans (43.1%); Hispanic and Latino (48.4%); Asians, Native Hawaiians and Pacific Islanders (61.2%). Current homeownership rates for these communities are still well below white homebuyer rates (74.4 percent), according to census data.
“We would like to thank Veterans United for joining us in this challenge and helping us achieve our goal of removing some of the barriers to homeownership that have impacted BIPOC and low to moderate income families. “said Realtor.com.® Marketing Director, Mickey Neuberger. “HCA’s Equity DPA fund will help pay down payments and closing costs for people of color and low-to-moderate income buyers, and the more businesses that join us in this challenge, the more we can help.” families to enter a house of their own.”
The HCA is a national, nonprofit organization whose mission is to provide equitable access to homeownership credit to underserved communities in the United States. The nonprofit will manage distribution of funds in accordance with program guidelines and in partnership with lenders and organizations approved by the U.S. Department of Housing and Urban Development (HUD).
“It’s really meaningful when industry leaders like Veterans United and Realtor.com® come together to provide resources to underserved and working households struggling to access homeownership,” said Gabe del Rio, CEO of HCA. “We are thrilled that more partners and donors are coming to support Equity DPA and hope that many more companies will follow in their footsteps as we work together to close the wealth gap in America.”
Eligible applicants must be a first-time homebuyer (by HUD, not a landlord for three years prior to home purchase date), participate in homebuyer education provided by a housing counseling agency approved by HUD, Freddie Mac, or Fannie Mae, and must be either low to moderate income, Black, Indigenous, Latino Hispanic, Mixed and Ethnic, or People of Color.
HCA strives to raise enough annual pledges from donors to reach at least 5,000 minority and low-income shoppers nationwide.
Companies wishing to participate in Equity DPA should contact HCA by email at [email protected] or visit the website and complete an application form at homeownershipcouncil.org/equitydpa.
About Veterans United Home Loans
Based in Columbia, Mo., the national full-service lender funded more than $29.9 billion in loans in 2021 and is the nation’s largest VA purchase lender, according to Department of Business Lender Statistics. veterans. The company’s mission is to help veterans and service members enjoy the home loan benefits earned through their service.
VeteransUnited.com | 1-800-884-5560 | 1400 Veterans United Drive, Columbia, MO 65203 | Veterans United Home Loans NMLS #1907 (www.nmlsconsumeraccess.org). A VA approved lender; Not endorsed or sponsored by the Department of Veterans Affairs or any other government agency. Allowed in all 50 states. For more information on state licensing, please visit www.veteransunited.com/licenses/.
Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate over 25 years ago, and today, through its website and mobile apps, it provides a marketplace where people can learn more about their options, trust the transparency of the information provided to them, and obtain services and resources tailored to their needs. Using proprietary data science and machine learning technology, Realtor.com® matches buyers and sellers with local agents in their market, helping to take the guesswork out of shopping. buying and selling a house. For professionals, Realtor.com® is a trusted provider of consumer relations and brand solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
Veterans United – Land Rhodes ([email protected])
real estate agent.com –Nicole Murphy ([email protected])
Source: United Veterans Home Loans