Are you considering buying your first home, but unsure where to start? Purchasing a home is one of the biggest financial decisions a person can make, and the path to ownership may feel confusing for many first-time buyers. Thankfully, it doesn’t have to be. Chase bank can help you navigate the homebuying process so getting the keys to your first home may be closer than you think.
Homeownership is more than just a dream for many Americans. In Chase Home Lending’s newly published First-Time Homebuyer Study, 69% of respondents said they still see homeownership as an important part of building wealth.
The survey included more than 1,100 consumers who indicated that they are looking to purchase a home and are actively preparing to buy. Unfortunately, systemic inequities have created historic barriers to homeownership.
As a result, rates of homeownership in Black communities are 25% lower than white communities, with the gap worsened by the 2008 housing crisis and the COVID-19 pandemic – both taking a disproportionate toll on Black communities.