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OneUnited Bank intros first-time homebuyer program for minorities

Photo: Adobe Stock

January 22, 2025

OneUnited Bank, the largest Black-owned bank in the U.S., has introduced the Lift Up Homeownership Program, which provides grants of up to $50,000 for first time homebuyers who identify as Black, American Indian/Alaska Native, Hispanic, Asian and Native Hawaiian/Pacific Islanders. This is part of an effort to remove barriers to homeownership faced by people of color, according to a press release.

In order to enter the program, participants must meet income requirements, complete a HUD homebuyer education course and provide a contribution of at least $1,000. The bank can also provide $1,500 for lender fees, appraisal and credit reports. This service will be through the Federal Home Loan Bank of Boston.

Funds are available on April 1 on a first come, first serve basis.

"The cost of buying a starter home is too darn high," Teri Williams, president and COO of OneUnited Bank, said in the release. "We hope our participation in down payment assistance programs and our contribution will help bridge the gap that many first-time homebuyers experience in all of our communities, including help to rebuild L.A. after the devastating wildfires."




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