PRI Profile

The Dearfield Fund for Black Wealth builds generational wealth for Black households by providing low-cost, flexible down payment assistance. Black Americans have faced financial exclusion throughout US history due to unjust housing and financial systems. Dearfield has identified that home ownership continues to be a vehicle for wealth creation and prioritizes Black and first-time home buyers.

Dearfield provides up to $40,000 in down payment assistance to build generational wealth. Homeowners do not make monthly payments, nor do they pay interest. Instead, when homeowners sell or refinance, they repay the down payment amount plus 5% of their home’s appreciation.

Highlights

In 2023, Dearfield was awarded the Ivory Prize for Housing Affordability for its innovative, ambitious, and scalable financing model. 100% of its investments go to Black, first-time homebuyers.