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Home ยป HUD Partners With Zillow To Close Racial Homeownership Gap
Real Estate

HUD Partners With Zillow To Close Racial Homeownership Gap

September 20, 2024No Comments3 Mins Read
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The Department of Housing and Urban Development has teamed up with Zillow for the “Let’s Make Home the Goal” campaign, which aims to connect minority communities with HUD pre-housing counseling services.

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The Department of Housing and Urban Development has enlisted Zillow to join the “Let’s Make Home the Goal” campaign, a multi-year initiative to educate minority communities about free pre-housing counseling services offered by the Department’s Office of Housing Counseling (OHC).

The campaign, launched in 2023, has already reached five million potential buyers in 15 media markets. With Zillow’s partnership, HUD expects to reach an additional eight million potential buyers in 42 media markets through ads on the portal’s digital and social media platforms.

Jennifer Butler

“At Zillow, we are dedicated to helping more people find homes,” said Zillow VP of Government Affairs Jennifer Butler. “Our focus on transparency and providing access to housing data and information aligns with our mission to assist consumers in finding housing.”

“By connecting consumers with the right resources, we aim to reduce barriers to affordable housing,” Butler added. “Partnering with HUD on the ‘Let’s Make Home the Goal’ campaign and expanding access to quality credit counseling services is a crucial step in bridging the homeownership gap and creating generational wealth for more families.”

Established in the 1970s, the OHC pairs potential homeowners with HUD-certified housing counselors who assist them through the homebuying process, including mortgage pre-qualification, creating a down payment savings plan, applying for homebuyer assistance, and utilizing tax credits. According to the OHC’s Facebook page, the average homebuyer who uses OHC services saves $11,300 in total debt.

Adrianne Todman

“Every day, HUD’s counselors provide thousands of Americans with trusted advice on homebuying, foreclosure prevention, and finding and maintaining affordable housing. But we believe we can assist even more people,” said HUD Acting Secretary Adrianne Todman in a statement.

“Together, we will reach a new generation of homeowners, help more families build generational wealth, and continue our efforts to assist Americans who have historically been excluded from the homebuying process.”

In addition to the Zillow partnership, HUD also introduced the Modernizing the Delivery of Housing Counseling Services final rule. This rule allows HUD-approved housing counseling agencies to utilize virtual and remote methods (such as phone calls and Zoom meetings) to reach homebuyers and renters who are unable to attend in-person meetings due to work constraints, limited transportation, or disabilities.

“We are thrilled to raise awareness about the availability and benefits of housing counseling,” said Federal Housing Commissioner Julia Gordon regarding the campaign and final rule.

These programs are designed to simplify the process for households to access the support they need in navigating the homebuying journey or securing safe, affordable, and stable housing.

For further information, please contact Marian McPherson.

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Close Gap homeownership HUD partners Racial Zillow
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