JPMorganChase said it intends to deploy more than $750 billion through 2035 to support US housing supply and homeownership. The announcement is a forward commitment under the company’s American Dream Initiative.
The targets include financing one million affordable housing units serving households below 120% of area median income. The company also aims to help 500,000 customers buy homes, including 200,000 first-time buyers.
JPMorganChase describes the planned amount as nearly 40% more than the housing capital it deployed over the past decade. CBS News separately reported the announcement and its central targets.
The company says the programme will involve more than 40% growth in mortgage lending, 850 new Home Lending Advisors, and further financing and policy work through 2035.
The commitment places housing finance, affordable supply and buyer support inside one ten-year framework. All of these are announced targets; what is ultimately financed, built and completed will be measured against them.
References
JPMorganChase — American Dream Initiative housing supply support
CBS News — JPMorgan Chase announces $750 billion housing investment
