JPMorgan Chase has announced commitments to organizations in the Washington, D.C., area working to address the housing affordability gap, including $7.5 million in philanthropic capital and the expansion of Chase Home Lending’s $5,000 homebuyer grant.

The $7.5 million in philanthropic commitments will support three nonprofits working to improve housing affordability and stability for underserved households. Recipients include the Coalition for Nonprofit Housing and Economic Development, which was awarded $4.45 million to lead a collaborative that includes National Housing Trust, Medici Road, Housing Counseling Services, LISC DC, Mi Casa, and the Douglas Community Land Trust; National Housing Trust, which will receive $3 million to promote decarbonization efforts in affordable housing by providing technical assistance to help owners retrofit buildings to improve resident health outcomes, and to engage community members, decision makers, and lenders to make public resources more accessible and aligned to enhance affordable housing; and Manna Homes, which was awarded $205,000 to help increase homeownership for underserved households through property acquisition, affordable housing renovation, and community engagement.

In addition, Chase’s homebuyer grant program will expand into 16 additional markets, including more than 400 majority Black, Hispanic, and Latino communities in the Washington, D.C., region.

“Today’s commitment is part of our holistic, firmwide approach to combatting the housing crisis,” said JPMorgan Chase global head of corporate responsibility Tim Berry. “We are combining our unique resources including business, philanthropy, research, and policy expertise to help increase access to capital and inventory of sustainable housing opportunities. We are committed to creating tangible solutions that help everyday Americans.”

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