通过自有住房为黑人家庭创造财富

72 percent for White families versus 42 percent for Black families).

A $2.5 million equity investment from the Robert Wood Johnson Foundation (RWJF) to Gary Community Ventures (GCV) will support The Dearfield Fund for Black Wealth, an investment vehicle that seeks to expand homeownership among Black families in the Denver metropolitan area by providing low-cost down payment assistance. Additionally, RWJF is finalizing a grant to bolster the Dearfield Fund’s supportive services to help families purchase and stay in their homes. This robust wrap-around program provides pre-purchase, post-purchase, and financial coaching support to homeowners so they can use their homes to continue to build wealth. 

The Dearfield Fund expects to support 500 first-time Black homeowners, with the goal for each family to increase their wealth by $100,000 over 10 years, resulting in $50 million in cumulative new wealth. 

By inspiring two or three similar funds and replicating its model in other metropolitan areas, the Fund hopes to become a national example for addressing the racial wealth gap in the United States.

Why it was Needed

Having enough money for the down payment to purchase a house remains one of the biggest obstacles for Black homebuyers. The median down payment saved up by Black borrowers is 3.5 percent compared to 10 percent for White borrowers. According to the Federal Reserve, 72 percent of White families stated they could receive $3,000 from family or friends, while only 41 percent of Black respondents said the same. A large factor in those differences is the lack of intergenerational wealth that stems from historical and ongoing inequitable access to homeownership. In other words, structural racism has deprived Black families from accumulating wealth that can be passed down from generation to generation.

How it Works

The Dearfield Fund provides up to $40,000 in down payment support to any Black homebuyer looking to buy their first home. Upon selling or refinancing the home, the homeowner repays the down payment loan plus a five percent share of the appreciation to the Dearfield Fund. The homeowner keeps the remaining money generated by the home’s appreciation, thus building their wealth.
In addition to creating individual wealth for Black families, the Dearfield Fund aims to revitalize historically Black neighborhoods in the Denver metro area where there is strong potential to slow gentrification and build regional Black wealth.

The fund is set up as a Special Purpose Credit Program under the Equal Credit Opportunity Act. At least 75 percent of RWJF’s funds will be used to provide down payment assistance to Black borrowers in the Denver metro area with a household income of less or equal to 80 percent of the area median income.

About The Dearfield Fund

The Dearfield Fund was launched in 2021 by Gary Community Ventures (GCV). Established in 1981, GCV is a Denver-based hybrid LLC and private foundation with the mission of supporting self-sufficiency and family economic mobility to increase opportunity for Colorado’s children and families. GCV’s examination of the drivers of the racial wealth gap surfaced down payment assistance to enable homeownership as a critical avenue for building intergenerational wealth among Black families and led GCV to design the Dearfield Fund.

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关于本次投资

对大多数美国家庭来说，拥有住房是积累财富的主要方式，是促进健康和幸福的一个因素。然而，拥有住房带来的与健康相关的好处并没有得到平等的享受，因为系统性的障碍和歧视限制了黑人家庭购买住房。黑人家庭的住房拥有率是美国所有种族中最低的。白人家庭为72%，黑人家庭为42%)。

罗伯特·伍德·约翰逊基金会(RWJF)向加里社区风险投资公司(GCV)提供了250万美元的股权投资，将用于支持迪尔菲尔德黑人财富基金(Dearfield Fund for Black Wealth)，这是一个投资工具，旨在通过提供低成本的首付援助，扩大丹佛大都市区黑人家庭的住房所有权。此外，RWJF正在最后确定一笔赠款，以加强迪尔菲尔德基金的支持服务，帮助家庭购买和保留他们的房屋。这一强有力的一揽子计划为房主提供售前、售后和财务指导支持，使他们能够利用自己的房屋继续积累财富。

迪尔菲尔德基金预计将支持500名首次拥有住房的黑人，目标是让每个家庭在10年内增加10万美元的财富，从而累计增加5000万美元的新财富。

通过激励两到三个类似的基金，并在其他大都市地区复制其模式，该基金希望成为解决美国种族贫富差距的全国范例。

为什么需要它

是否有足够的钱支付首付款仍然是黑人购房者面临的最大障碍之一。黑人借款人的首付中值为3.5%，而白人借款人的首付中值为10%。根据美联储的调查，72%的白人家庭表示，他们可以从家人或朋友那里得到3000美元，而只有41%的黑人家庭这么说。造成这些差异的一个重要因素是代际财富的缺乏，这源于历史上和目前在房屋所有权方面的不平等。换句话说，结构性种族主义剥夺了黑人家庭积累可以代代相传的财富的权利。

它是如何工作的

迪尔菲尔德基金为任何希望购买第一套住房的黑人购房者提供高达4万美元的首付支持。在出售或再融资房屋时，房主将偿还首期贷款加上5%的增值份额给迪尔菲尔德基金。房主保留了房屋升值产生的剩余资金，从而积累了财富。
除了为黑人家庭创造个人财富外，迪尔菲尔德基金还旨在振兴丹佛都会区历史上的黑人社区，那里有很大的潜力来减缓中产阶级化，并建立区域性的黑人财富。

该基金是作为一个特殊用途信贷计划根据《平等信贷机会法》RWJF至少75%的资金将用于为丹佛市区家庭收入低于或等于该地区中位数收入80%的黑人借款人提供首付援助。

关于迪尔菲尔德基金

迪尔菲尔德基金由加里社区投资公司(GCV)于2021年发起。GCV成立于1981年，是一家总部位于丹佛的混合有限责任公司和私人基金会，其使命是支持自给自足和家庭经济流动性，以增加科罗拉多州儿童和家庭的机会。GCV对种族贫富差距驱动因素的研究表明，首付款援助使住房所有权成为黑人家庭建立代际财富的关键途径，并促使GCV设计了迪尔菲尔德基金。