澳博官方网站app宣布新的商业和慈善承诺，以帮助缩小华盛顿的住房负担能力差距.C. and beyond

June 28, 2023 (Washington D.C.) – On Wednesday, 澳博官方网站app宣布了新的慈善和扩大业务承诺，作为其全公司解决住房负担能力差距的方法的一部分. This includes:

• New philanthropic commitments totaling $7.65 million 支持三家致力于改善住房负担能力和稳定性的非营利组织, including Black, Latino, and Hispanic households in Washington D.C.;
  
  
• Expanded Chase Home Lending’s $5,000 Homebuyer grant, a part of its Special Purpose Credit Program (“SPCP”), to include 16 additional markets, including more than 400 majority Black, Hispanic and Latino communities in the Washington D.C. region.

Today’s announcement marks two years into JPMorgan Chase’s $400 million five-year commitment  to improve housing affordability and stability for underserved households.  Since 2021, JPMorgan Chase has deployed more than $224 million in low-cost loans, equity investments and grants to 153 organizations across the U.S. to help close the housing affordability gap. This work has helped preserve or create more than 12,500 housing units, serve more than 46,000 households, and leverage an additional $680 million in capital.  

The Washington D.C. region’s housing crisis is one of affordability and inventory. According to the Metropolitan Washington Council of Governments, the region needs 320,000 additional units of housing by 2030 to accommodate burgeoning demand. The result is too many people chasing after too few homes.  Additionally, according to the U.S. Census Bureau, in Washington D.C., the homeownership rate for Black and Hispanic households is 50% compared to 70% for White households.

New philanthropic commitments support programs that aim to increase the supply of affordable, climate-friendly housing and increase homeownership and wealth for underserved households, including Black, Latino, and Hispanic households in the D.C. region. They include:

• $4.45 million to Coalition for Non-Profit Housing and Economic Development (CNHED). CNHED will lead a collaborative, that includes National Housing Trust, Medici Road, Housing Counseling Services, LISC DC, Mi Casa, and Douglas Community Land Trust, which aims to increase and preserve the supply of affordable, small buildings (<50 housing units) and supporting residents becoming small building owners to build wealth. 该公司参与了由林肯土地政策研究所社区投资中心领导的连接资本和社区(3C)倡议，以促进美国五个州更公平的住房结果.S. cities.
• $3 million to National Housing Trust (NHT). NHT将利用这一承诺，通过向业主提供技术援助，改造建筑物以改善居民健康状况，促进经济适用房的脱碳工作, and to engage community members,  决策者和贷款人使公共资源更容易获得并协调一致，以改善经济适用房. This work aims to save tenants $1,200 in estimated average monthly rent savings, 澳博官方网站app(JPMorgan Chase)与城市研究所(Urban Institute)合作，在美国各地测试和推广创新住房模式.S.
• $205K to Manna. The funding will support Manna's focus on increasing homeownership for underserved households, including people of color through property acquisition, affordable housing renovation, and community engagement. Manna将利用这一承诺，通过倡导专门的资源来建造和翻新住房，帮助解决供应障碍. Manna has developed more than 1,500套可负担的待售单位，并将完成一项影响研究，探索经济流动性的实际结果, stability, and wealth-building from homebuyers. 

“Affordable, sustainable homeownership is essential to building strong communities and intergenerational wealth. Businesses, 社区领导人和政策制定者必须共同努力，解决住房稳定性和可负担性问题，从根本上改变住房市场,” said Mark O’Donovan, CEO of Chase Home Lending. “我们希望这些新的承诺将为华盛顿最需要它的人提供有意义的影响.C. region, and we’ll continue to partner with the public sector to ensure that’s the case.”

“When residents have safe, stable, and affordable housing, 这使他们能够专注于生活的所有其他方面，并创建更强大的社区——这就是这些基金将帮助我们做的事情,” said D.C. Mayor Muriel Bowser. “We also know that for many families, homeownership is a critical tool for building and passing on wealth, 我们感谢澳博官方网站app与当地组织合作，帮助更多的华盛顿人拥有自己的房子.”

Helping to Increase Housing Affordability, Wealth Creation and Sustainable Homeownership across the U.S

Nationally, the housing crisis has been exacerbated by a shortage of affordable homes for purchase, coupled with high interest rates and increased home prices. This has put sustainable homeownership out of reach for many underserved households.

Two years into the firm’s $400 million philanthropic commitment, JPMorgan Chase has deployed loans, 向153个组织提供股权和赠款，以提高美国各地服务不足社区的住房负担能力和稳定性.S.  For example, 澳博官方网站app(JPMorgan Chase)已承诺提供资金，支持创新模式，以解决获得住房所有权的障碍和独户住房供应不足的问题, including:

• A $2.5 million commitment to the Center for Community Self-Help to scale its mortgage innovations to support low to moderate income borrowers, including people of color. 这包括Equity Boost抵押贷款——97-100%的贷款价值比抵押贷款产品，搭配零利息首付援助贷款, and SAFE mortgage savings account that incentivizes saving for financial emergency or urgent home repairs. Now Equity Boost and SAFE are available in North Carolina, South Carolina, Florida, Illinois, California, Wisconsin and Washington.  One year into the three-year program, Self-Help has served more than 350 individuals through financial coaching, preparing them to increase emergency savings, reduce debt, and build credit to prepare for homeownership. 
• A $3 million commitment to the Housing Partnership Network 支持社区聚合组织——一个竞拍政府住房抵押贷款的非营利组织, acquire and rehab homes, and make them available primarily to first-time, low-income homebuyers at affordable prices. The group has won 230 bids to-date – preserving those units for affordable homeownership.  JPMorgan Chase’s commitment also supports the Equitable Homeownership Collaborative, comprised of CDFIs who aim to increase homeownership opportunities for people of color.
• A $2.5 million commitment to Atlanta Neighborhood Development Partnership (ANDP) to increase the supply of affordable, single-family homes. 这笔投资将帮助ANDP开发可负担得起的房屋出售和租赁，并为符合条件的中低收入购房者提供首付援助, including those in predominately Black neighborhoods in metro Atlanta. ANDP还致力于投资于少数族裔和女性领导的开发商和承包商，以开发更多的住房. These efforts combined are anticipated to impact at least 507 metro Atlanta families. To date, 这项支持已经促成了210套ANDP经济适用房的建成或在建，并为小型住房投资了近2100万美元, Black-owned developers and real estate-affiliated businesses.

These commitments are part of JPMorgan Chase’s Housing Innovation Program. Learn more about these models here.

“Today’s commitment is part of our holistic, firmwide approach to combatting the housing crisis,” said Tim Berry, Global Head of Corporate Responsibility, JPMorgan Chase “We are combining our unique resources including business, philanthropy, 研究和政策专业知识，帮助增加获得资本和可持续住房机会的清单. We are committed to creating tangible solutions that help everyday Americans.”

In addition to providing philanthropic capital, 该公司还专注于通过其业务推进经济包容性和增加住房所有权机会. 该银行在历史上面临银行业务障碍的社区采取了一种本地化的方式，帮助提供更多负担得起的住房贷款, low-cost checking accounts, and financial health education workshops.

• Community Banking: Chase has hired more than 300 community-focused managers, 家庭贷款顾问和高级商业顾问，并开设或振兴了300多家社区式分支机构, including fifteen new Community Center branches, to help expand access to banking and boost financial health and inclusion among Black, Hispanic and Latino communities.
• Increasing Homeownership Opportunities: Chase Home Lending’s expansion of its $5,000 Homebuyer Grant will help stabilize communities across the country. The grant is now available for customers purchasing a home in more than 14,000 majority Black and Hispanic/Latino communities across the country. To help homebuyers become more aware of financial assistance that may be available to them, the business has also launched the Homebuyer Assistance Finder.

JPMorgan Chase also advances this work through data-driven policy solutions and research. Last week, 澳博官方网站app研究所(JPMorgan Chase Institute)发布了一项新研究，进一步强调了促进住房所有权的社区工作的必要性. Learn more here.

Comments on the Importance of Closing the Housing Affordability Gap

“We appreciate JPMorgan Chase's support in our DC Healthy, Green, and Affordable Housing project.” stated Priya Jayachandran, CEO of National Housing Trust. “这笔拨款将有助于帮助NHT和我们的合作伙伴确定和实施脱碳解决方案，为D州经济适用房居民提供健康和能源效益.C. and across the U.S.”

“历史告诉我们，建立资产和创造代际财富的最有效工具是房屋所有权,” says Sasha-Gaye Angus, President and CEO, Manna, Inc.  “With assistance from JPMorgan Chase, Manna will advance racial equity by implementing supply-based strategies in D.C. and MD for greater access to units, continue its advocacy for homeownership investments, conduct an updated impact study, 并主持会议，为该地区及周边司法管辖区建立负担得起的住房所有权途径.”

“该地区目前的经济适用房目标要求主要关注大型单元建筑的生产和保护. CNHED知道，一项侧重于小型单元建筑的举措将有助于为解决经济适用房危机提供更全面的方法，从而补充该地区的应对措施,” says Stephen Glaude, Coalition for Non-Profit Housing and Economic Development  President and CEO. “CNHED非常感谢澳博官方网站app不仅认识到这些需求，而且为推进创新的连接资本和社区倡议提供了急需的资源."

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.7 trillion in assets and $303 billion in stockholders’ equity as of March 31, 2023. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at wt8n.byum.net.