Addressing racial wealth gaps

Our Commitment

Build Wealth Minnesota

2 grants from 2022-2022
Minneapolis
MN

Grants Received

$2,000,000
in
2022
Term
117 months

Minneapolis, MN — Build Wealth Minnesota (BWM) will scale low-barrier mortgage lending programs to increase Black homeownership by 15% in the Twin Cities. The 9,000 Equities Fund will leverage philanthropic and public investment to transform mortgage lending by providing 9,000 low-barrier mortgage loans to borrowers with low incomes. BWM plans to raise $100 million in capital needed for a permanent revolving mortgage loan fund to achieve its goal over 10 years. Financial coaching and training will prepare a pipeline of homebuyers to receive down payment assistance and an affordable mortgage for sustainable homeownership. Affordable mortgage loans and long-term assistance by BWM will grow equity in their homes and lead to wealth creation by Black families.

$3,937,500
in
2022
Program
Community Innovation Grants
Term
60 months

Minneapolis, MN — Build Wealth Minnesota (BWM) will scale low-barrier mortgage loan programs to increase Black homeownership by 15% in the Twin Cities. The 9,000 Equities Fund will leverage philanthropic and public investment to transform mortgage lending by providing 9,000 low-barrier mortgage loans to borrowers with low incomes. BWM plans to raise $100 million in capital needed for a permanent revolving mortgage loan fund to achieve its goal over 10 years. Financial coaching and training will prepare a pipeline of homebuyers to receive down payment assistance and an affordable mortgage for sustainable homeownership. Affordable mortgage loans and long-term assistance by BWM will grow equity in their homes and lead to wealth creation by Black families.