Financing Your New Home

Wells Fargo Commits $60 Billion to Increase African American Homeownership

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Written by Christopher Cox

The bank’s goal is to create around 250,000 new homeowners in the next ten year

Wells Fargo has announced a $60 billion lending commitment, to create at least 250,000 new African American homeowners, in an effort to address the lower homeownership rates in the black community. The banking and financial services holding company seeks to lend $60 billion to qualified African American consumers for home purchases by 2027, as well as to increase the diversity of the Wells Fargo Home Lending sales team, with $15 million to support a variety of initiatives that promote financial education and counseling over the next ten years.

About the author

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Christopher Cox

Christopher G. Cox has over 20 years of experience in the real estate and finance industries. He has understands the complexities and diversity of the real estate market, and he has a passion of helping people realize the American Dream.