In an effort to improve housing supply across the U.S., JPMorganChase announced that the firm plans to deploy over $750 billion through 2035 as part of its American Dream Initiative. The multi-year program aims to expand opportunity to millions of Americans and future generations through targeted investments in local communities.

With the recent announcement, the firm’s housing capital deployment will increase by 40% compared with the past decade and will include financing for one million affordable housing units and help 500,000 homebuyers purchase homes.

The housing initiative aims to deepen collaboration with policymakers and community partners to improve state and local solutions to housing, including streamlining the zoning process, expanding tax credits, and creating public-private partnerships. With these policies in place, the firm intends to provide more capital to help improve housing access and affordability across the country.

By directing more than $750 billion in capital toward this initiative with a broad suite of financial solutions and local expertise, the firm is reinforcing its support for renters and homeowners at every stage of their housing journey, including through:

• Expanding housing financing: Increasing capital deployed through available tools such as debt, equity, and grants to build or preserve housing supply, in partnership with developers, owners, non-profits, and governments, including financing 1,000,000 affordable units (<120% AMI) over the next decade.
• Increasing homeownership opportunities: Helping 500,000 customers—including 200,000 first-time homebuyers—purchase homes by increasing mortgage lending by more than 40 percent, hiring 850 new Home Lending Advisors, introducing new digital tools, and considering innovative construction options such as modular and manufactured homes as possible new loan product offerings. The firm will also work with organizations to help lower mortgage costs and improve long-term affordability, including through down payment assistance.
• Advancing policy advocacy and research: Using data-driven insights to identify gaps in the market, the firm will leverage the JPMorganChase PolicyCenter and Institute to translate research into evidence-based policy recommendations and to direct our resources to where they will have the greatest impact. The recently launched Building Blocks series examines state and local policy opportunities to increase housing supply.