For many Americans, achieving the “American Dream” includes owning a home and creating generational wealth for their families. But for many African Americans, that dream is never actualized. Across the United States, less than half of Black Americans are home owners, and instead of making gains in this area, data from the National Association of Realtors shows that less Black people own today than they did a little over a decade ago.   

The Neighborhood Assistance Corporation of America (NACA), the nation’s largest non-profit homeownership and advocacy organization, aims to increase the number of American homeowners through workshops, webinars, assistance programs and signature events. This month, the organization that started in Boston in 1988 and helped numerous families at the height of the 2007 financial crisis, will bring its “Achieve the Dream” event to the Resorts World Casino in Queens from the 23rd through the 27th. On hand will be NACA counselors helping interested homebuyers qualify for an affordable mortgage. They will also assist current homeowners modify their existing mortgages to make them more affordable and connect renters to the $47 billion in rental assistance set aside by the federal government. 

When it comes to equity and equality, the homeownership rate for black Americans stands out. The wealth disparity between Black and white Americans and Black and white households was less in 1968—in the midst of the Civil Rights Movement—than today, and the income disparities were less in 1968 than they are today. While the country has adapted an attitude of equality, the data suggests that America remains a place where there is not equal access to opportunity or capital. 

A 2021 American Housing Survey found that Black homeowners have primary mortgages with higher interest rates when compared to white homeowners with similar incomes, and they also have higher interest rates than white homeowners with substantially lower incomes. During the Queens “Achieve the Dream” event, thousands of homebuyers will receive same-day qualification for NACA’s mortgage, which involves no down-payment, no closing costs, no mortgage insurance at a below market fixed rate (4.125% - 30-year fixed and 3.5% - 15-year fixed as of 5/24/22) without consideration of one’s credit score. 

“The Achieve the Dream event solves the implementation bottleneck that has prevented the massive infusion of government funds from going to those in greatest need,” reads a statement shared with EBONY. “ Thousands will take a major step forward toward owning or saving their homes in a single day without having to go it alone.”