In 2012, only 11% of MassHousing loans went to Black, Latino and Asian borrowers. As of August this year, it was more than half, according to a new report from Boston Indicators.
MassHousing, a quasi-state agency that helps fund home loans for low- and moderate-income borrowers, has quadrupled the share of people of color who access the group's funds over the last decade.
The programs involve helping borrowers secure affordable loans and, in some cases, assist with down payments. For instance, Schuster said, a family of four earning $100,000 a year in the city of Boston can potentially buy a first home with aid from MassHousing. But that figure represents a big change from previous years, when families earning significantly less could qualify for loans.
The Massachusetts Housing Partnership also has made progress in reaching communities of color with homebuying dollars, according to the study. In 2006, half of the group's first-time borrowers were white, compared with 32% in 2022."We’ve historically had a diverse borrower pool and have steadily been serving a large percentage" of people of color, the group's spokesperson Calandra Clark said in an email.
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