About Homeownership Alliance

The Homeownership Alliance is a practitioner-led collaboration that advocates for more resources and better policies to increase affordable homeownership opportunities for American families. The Homeownership Alliance’s members comprise some of the leading nonprofit, mission-focused homeownership practitioners from across the country. These organizations prepare families to become successful homeowners and finance, renovate, and develop affordable homes that are assets for communities and the families that live in them.  Read more about the Homeownership Alliance.



The mission of the Homeownership Alliance is to increase access to homeownership in order to narrow America’s racial wealth gap, improve access to long-term affordable housing, and to revitalize communities without gentrification. 


The Homeownership Alliance is committed to building a robust, nonprofit-led delivery system that will increase access to homeownership for those who have been left behind by our current system. We will increase the visibility of homeownership as an important means of achieving greater social justice, will advocate for public policies and resources that support affordable homeownership, and will help scale effective homeownership strategies across the country.

Closing the Racial Wealth Gap Through Homeownership

The Homeownership Alliance is driven to develop affordable homeownership opportunities for families because homeownership is so important in narrowing America’s racial wealth gap. According to the Federal Reserve’s Survey of Consumer Finances (Sept. 2020), the median wealth of white households is $188,200 compared to only $24,100 for Black households and $36,200 for Hispanic households. This wealth gap is both a cause and an effect of the persistent disparity in homeownership rates, with the Census Bureau reporting a homeownership rate of 74% for White households, 44% for Black households, and 48% for Hispanic households in 2021. Since the end of World War II, homeownership has been the primary driver for building generational wealth for American families, but millions of Americans, especially households of color, have been denied the wealth-building and community-stabilizing benefits of homeownership.

Click on our Case for a Homeownership Strategy to learn how homeownership rates impact the racial wealth gap.



Currently, the Alliance is supervised by a Steering Committee consisting of representatives from existing membership including Homewise,NHS of Chicago,ANDP,Fahe,Self-Help,The Resurrection Project,HDF,NeighborWorks Columbus, and Habitat for Humanity of Metro Denver. Anthony Simpkins, President and CEO of NHS of Chicago, is Chair of the Steering Committee. Mike Loftin, CEO of Homewise, is the Vice Chair. 


For more information about the Homeownership Alliance, including membership and partnership opportunities, please fill out the following contact form.


2022 Policy Agenda

The Homeownership Alliance supports the pending affordable housing legislation, including:

The Neighborhood Homes Investment Act (S. 98 and H.R. 2143)

This provision establishes a new federal tax credit to encourage the rehabilitation of deteriorated homes in distressed neighborhoods. States would receive Neighborhood Homes Investment Act (NHIA) tax credit authority and administer and allocate credits on a competitive basis. Rehabilitated homes must be owner-occupied for investors to receive the credits. Homeowners must be below certain income limitations, sales prices are capped, and qualifying neighborhoods must have elevated poverty rates, lower incomes, and modest home values.

First-Generation Down Payment Assistance

This provides $10 billion to provide first-time, first-generation homebuyers with the greater of $20,000 or 10% of the purchase price of an eligible home in financial assistance, including for down payment costs, closing costs, and costs to reduce the rates of interest.   $6.8 billion of the funding will be allocated by formula to the states and $2.275B of the funding will be used for a competitive grant program allocated by HUD.  The funding can go to Minority Depository Institutions, CDFIs, nonprofits, and local governments.

Increased funding for affordable homeownership

The Build Back Better Act also includes much needed funding for programs that expand the supply of affordable homes for sale, which will help lower housing prices and inflationary pressure.  The HOME program, a block grant program to state and local governments that can be used for homeownership and rental housing is increased by $10 billion.  The legislation also creates a new “Housing Investment Fund” at the CDFI Fund, the “Community Restoration and Revitalization Fund” that will fund local partnerships to revitalize neighborhoods, and increases the Federal Home Loan Bank System’s contribution to the Affordable Housing Program.

The above provisions were included in the Build Back Better Act, which increased resources that nonprofit developers can use to expand the supply of affordable homeownership. The Homeownership Alliance advocates for these provisions regardless of their inclusion in Build Back Better.

Regulatory Reform Agenda


HOME is an affordable housing program administered by states and localities that can be used for rental housing or homeownership.  HOME use for homeownership projects has been declining in recent years, but with some streamlining of the HOME regulations, this resource could create more homeowners.

Our recommendations: HOME Program Recommendations

Federal Home Loan Bank System

The Federal Home Loan Bank System was created during the Great Depression to provide reliable liquidity to lenders for home mortgages and community investments.  The 11 Federal Home Loan Banks are member-owned cooperatives that collectively borrow in the capital markets to make loans to members. This is an underutilized resource that should be tapped as a source of low-cost, long-term capital for homeownership lending and development.

Our recommendations: Federal Home Loan Bank System Policy Options Memo

Capital Magnet Fund

The Capital Magnet Fund was created in 2008 to be a source of flexible capital for affordable housing developers to leverage with other funds.  It can be used for both affordable rental housing and homeownership, with a preference for projects that serve lower-income residents.  Program reforms would make this resource easier to use for homeownership.

Our recommendations: Capital Magnet Fund Policy Options Memo

New Markets Tax Credits

The New Markets Tax Credits attract capital investments to distressed neighborhoods by giving investors in businesses in these neighborhoods credits on their federal taxes equal to 39% of their investment over seven years.   An innovative use of the power of this tax incentive is to finance real estate construction companies that build affordable homes in qualified neighborhoods.   This use should be encouraged.

Our recommendations: New Markets Tax Credits Policy Options Memo

Property Disposition

Currently there is a serious inventory shortage of lower priced, high quality single family homes for potential homebuyers.  Government policies regarding delinquent loans and foreclosed homes could be improved so that these properties can benefit families and neighborhoods.

Our recommendations: Policy Options Memo for Delinquent Loans and Foreclosed Homes