February 27, 2026 Black History Month – Working to Promote More Accessible and Sustainable Homeownership

During Black History Month, U.S. Mortgage Insurers (USMI) recognizes the importance of housing affordability and the historic wealth building opportunity associated with homeownership, including for Black Americans. USMI is committed to helping borrowers achieve the American Dream of homeownership sooner and without a 20% down payment, making accessible and sustainable homeownership a reality in 2026 and beyond.

Homeownership is a vital part of the American Dream and less than half of Black Americans own a home (44.2%). Black American respondents to USMI's Homeownership Survey stated that the number one perceived challenge in the homebuying process was an inability to afford a down payment. In addition, USMI data found it would take the average Black American household 37 years to save up for a 20% percent down payment plus closing costs. At the same time, 62% of Black respondents thought that a down payment of 10% or more is required to be able to purchase a home.