Grant For Build Wealth Minnesota

Build Wealth Minnesota (BWM) will scale low-barrier mortgage lending programs to increase Black homeownership by 15% in the Twin Cities. The 9,000 Equities Fund will leverage philanthropic and public investment to transform mortgage lending by providing 9,000 low-barrier mortgage loans to borrowers with low incomes. BWM plans to raise $100 million in capital needed for a permanent revolving mortgage loan fund to achieve its goal over 10 years. Financial coaching and training will prepare a pipeline of homebuyers to receive down payment assistance and an affordable mortgage for sustainable homeownership. Affordable mortgage loans and long-term assistance by BWM will grow equity in their homes and lead to wealth creation by Black families.