Chase Expands $5,000 Homebuyer Grant to More Hispanic and Black Communities

Chase Home Lending announced on June 28, 2023 a significant expansion of its $5,000 Homebuyer Grant program, extending eligibility to 16 additional markets and covering more than 14,000 majority-Hispanic and majority-Black census tracts across the country. The grant is designed to help close the homeownership gap by addressing two of the largest hurdles facing first-time and underserved buyers: the upfront cash needed for a down payment and closing costs.

Eligible buyers purchasing a primary residence in a qualifying census tract can apply the $5,000 grant toward a down payment, closing costs, or discount points to reduce the interest rate on a Chase DreaMaker, Standard Agency, FHA, or VA mortgage. The grant does not need to be repaid.

The 2023 expansion added coverage in Atlanta, Austin, Baltimore, Charlotte, Denver, Fort Lauderdale, Fort Worth, Las Vegas, Minneapolis, New York, Orlando, Riverside (CA), San Antonio, San Diego, Tampa, and Washington, D.C. Several markets saw dramatic increases in eligible-community coverage: San Antonio jumped from 0% to 65%, Riverside from 0% to 61%, and Fort Lauderdale from 19% to 63%. Las Vegas reached 38% coverage, San Diego 30%, New York rose from 16% to 28%, and Washington, D.C. moved from 21% to 36%.

"We are proud to further expand the Chase Homebuyer Grant because it helps make the journey to homeownership a little bit easier," said Cerita Battles, head of Community and Affordable Lending at Chase.

The program has evolved steadily since its launch. Chase first introduced the $5,000 grant in 2021, targeting roughly 6,700 predominantly Black census tracts. In 2022 it was extended to more than 5,000 Hispanic-majority communities across 20 markets. Since inception, more than 8,600 customers have received the grant, representing $43.1 million in cumulative benefit.

To check whether a specific address falls within an eligible census tract, prospective buyers can use the address-lookup tool on Chase's affordable lending site or speak with a Chase Home Lending Advisor. The grant can be combined with other Chase affordable-lending offerings, including the DreaMaker low-down-payment mortgage.