JPMorgan Chase's Home Lending is expanding its $5,000 Homebuyer Grant program to 5,000 Hispanic communities in 20 markets. With this grant, families can pay for down payments and closing costs for houses, according to a press release.

Chase first launched the grant to 6,700 predominantly Black census tracts in 2021. This grant is available on DreaMaker, Standard Agency, FHA and VA mortgages and can be combined with the $500 home buyer education benefit when buying a house with a DreaMaker mortgage and completing a course.

"This grant supports Chase's long-term, comprehensive commitment toward uplifting and empowering Black, Hispanic, and Latino neighborhoods," Cerita Battles, head of community and affordable lending at Chase, said in the release. "The industry continues to be challenged to think differently in how we approach racial equity and closing the wealth gap through home ownership. We believe expanding our $5,000 Homebuyer Grant program is a step in the right direction and a direct investment in American families and the diverse communities in which they live and thrive."

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