COLUMBUS, Ohio — Instead of closing, the gap between Black and white homeowners is widening, according to the Urban Institute. A new program in central Ohio aims to help bridge that gap.
The Maude Hill Growing Homeownership Fund is now available for qualifying first-time homebuyers in Franklin County. The fund provides up to $15,000 as a five-to-one match of personal savings to help with a down payment, closing costs and other eligible expenses to participants who meet eligibility criteria.
Colulmbus' 31% minority homeownership gap is the second highest of any metro area in the U.S.
"That's what homeownership and that's what this fund is really about," said Columbus city councilman Nick Bankston. "It is about providing opportunities for the next generation of folks to call Columbus home."
The fund is the result of partnerships between banks and community organizations who raised $1 million to help reduce the racial homeownership divide in Columbus.
For more information, visit bloom614.org.