Grants up to $70,000 provided per family

San Diego CA— The San Diego Foundation, LISC San Diego and the Urban League of San Diego County have joined together to launch the San Diego Black Homebuyers Program with a goal to improve the racial wealth gap in San Diego by investing in generational wealth-building opportunities through Black home ownership.
Founded and seed-funded by an initial pledge of $1 million by The San Diego Foundation Black Community Investment Fund, along with administrative funding from the County of San Diego, through the office of Board of Supervisors Chair, Nathan Fletcher, the goal of the fund is to further wealth building and a stabilizing force for family, community, health and self.
In addition, financial institutions are partnering with the coalition as mortgage lenders and grantors.
Along with providing mortgage financing, a participating lender will provide at least $9,000 in grants for qualifying homebuyers and leverage matching grants through sources such as the Federal Home Loan Bank of San Francisco’s Workforce Initiative Subsidy for Homeownership (WISH).
The WISH program offers eligible low-to-moderate income households 4-to-1 matching grants of up to $22,000 for down payment and/or closing costs. By working together, homebuyers may receive over $70,000 in grant assistance towards the purchase of a home.
LISC San Diego will be the administrator of funds granted to eligible homebuyers, while also providing an additional $250,000 contribution of its own.
The Urban League of San Diego County will provide its HUD-certified homeownership counseling services for these homebuyers prior to and post-purchase, and will lead outreach efforts.
For more information visit: https://www.sdfoundation.org/