HUD USER

Owning a home in a neighborhood of one's choice is a major aspect of the American dream. Owning a home is one of the primary ways of accumulating wealth in our society. There is also evidence that—by creating a greater stake in the neighborhood—homeownership increases a people's willingness to invest in community problem-solving. And homeownership is even known to increase people's overall sense of well-being.

Yet not all Americans enjoy equal access to the benefits of homeownership, in part because ofunequal access to capital. Minorities are less likely than whites to obtain mortgage financing and, if successful in obtaining a mortgage, tend to receive less generous loan amounts and terms.