Business
OneUnited Bank launches first-time Homebuyer Program for MLK Day 2025
OneUnited Bank, the largest Black-owned bank in the U.S., is launching first-time homebuyer programs in 2025 to honor Martin Luther King Jr. Day. These include the Lift Up Homeownership Program, offering grants of up to US$50,000 from the Federal Home Loan Bank (FHLB) of Boston to assist with down payments and closing costs for eligible first-time homebuyers from underserved communities, including Black, Hispanic, American Indian/Alaska Native, Asian, and Native Hawaiian/Pacific Islander groups.
Recognizing homeownership as a key driver of generational wealth, OneUnited Bank aims to reduce barriers faced by communities of color. Borrowers must meet income limits (120 percent of area median income), complete a HUD-approved homebuyer education course, and contribute at least US$1,000. Additionally, the bank provides US$1,500 for appraisal, credit report, and lender fees.
Home loans are available in Boston, Los Angeles, Miami, and surrounding areas served by OneUnited Bank branches.