Black Homeownership Initiative:
Building Black Wealth

Introduction | Video Series | Homeownership Tips | Success Stories

Why Black Homeownership Matters

Homeownership has been the most effective way that Americans build wealth, which can be passed down from generation to generation. It also stabilizes communities, provides access to education, and access to employment opportunities.

However, not all Americans have had an equal opportunity to build wealth through homeownership. Historical discrimination through exclusionary housing policies and practices, plus a dwindling supply of housing and a variety of other factors have limited Black families from purchasing homes at the same rate as their White counterparts.

For the entire 2010s, California’s Black homeownership rate has been lower than it was in the 1960s, when it was completely legal to discriminate against Black homebuyers. The 2019 statistics show that just 41% of Black families own their homes compared to 68% of White families.

Note: Data above is from the 2019 homeownership data collected by the U.S. Census.

Tips to Black Homeownership

CalHFA's Tips to Black Homeownership videos can help first-time homebuyers navigate through the homebuying process. Below, homebuyers can find assistance on topics such as credit, finances and documentation needed when speaking with a lender.

Tips to Black Homeownership videos available:

TIP #1: Educate Yourself The best way for Black homebuyers to prepare for the homebuying process is to get educated.

TIP #2: Determine Affordability Determining how much you can afford goes beyond the price of the home.

TIP #3: Find An Experienced Real Estate Professional Experienced real estate agents have a wealth of knowledge and they can guide you through your homebuying journey.

TIP #4: Understanding Credit Understanding your credit is important when you're trying to secure a mortgage loan with a low interest rate.

TIP #5: Debt-to-Income Ratio Your debt-to-income ratio is a key part of determining your ability to repay debts you owe.

TIP #6: Down Payment Assistance Down payment assistance will save you money in the homebuying process.

Black Homeownership Success Stories

CalHFA started out in 1975 with a goal that is reflected today in our mission statement: helping more Californians find a place to call home. Now more than 40 years later, the Agency is proud to have assisted over 200,000 low- and moderate-income California families in becoming homeowners.

The homebuying process can be daunting, especially for Black families that have not seen as many members of their community complete the homeownership journey, with all its ups and down. To help show that homeownership is possible, CalHFA will use videos and written stories to showcase everyday Black Californians, successful completing this journey. We hope these stories inspire you to take the first step on your path to homeownership.

Success stories will be coming soon.