Habitat for Humanity of Greater Los Angeles and the Annenberg Foundation partner on expansion of equitable lending program

Los Angeles — (May 20, 2022) — As Habitat for Humanity of Greater Los Angeles (Habitat LA) gears up to expand its equitable lending program for new homeowners, the Annenberg Foundation has stepped up — granting $75,000 in support of the initiative.

Currently, fewer than 37% of Black and Latin households are homeowners, compared to almost 60% of white households in Los Angeles County. According to Erin Rank, Habitat LA President and CEO, “Habitat LA continues to work each day to address the ever-expanding lack of affordable housing in greater Los Angeles and is committed to building more opportunities for communities of color to become homeowners. We are grateful to the Annenberg Foundation for continuing to partner with us and especially for their support of this much needed program.”

The Annenberg funding will be used to conduct on-the-ground interviews with households that may qualify for Habitat LA’s lending program—and to provide program materials, classes, and support services in multiple languages and formats. The Annenberg Foundation is the first private foundation to invest in Habitat LA’s equitable lending program. The funding will help increase outreach efforts specifically to BIPOC communities that previously may not have been able to access homeownership opportunities.

The grant will be combined with funding previously provided to Habitat LA by the California Department of Housing and Community Development (HCD) via their CalHome Program. Combined, these two funding sources will enable Habitat LA to provide at least 54 local, low-income households with up to $100,000 in down payment assistance to purchase their first home and, in turn, begin building the long-term financial stability that comes with affordable homeownership.

Habitat LA provides equal housing opportunities for all and ensures fair and equal access to its programs and services regardless of race, color, religion, gender, national origin, familial status, disability, marital status, age, ancestry, sexual orientation, source of income, or other characteristics protected by law.

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The Annenberg Foundation is a family foundation that provides funding and support to nonprofit organizations in the United States and globally. The Foundation and its Board of Directors are also directly involved in the community through innovative projects that advance public well-being, spark new ideas, and spread knowledge. The Foundation is committed to core values of responsiveness, accessibility, fairness, and involvement.

Habitat for Humanity of Greater Los Angeles (Habitat LA) transforms neighborhoods throughout greater Los Angeles by bringing the communities together to build and repair homes and help families rebuild after natural disasters. Habitat LA empowers people through access to affordable loans, housing counseling and down-payment assistance.