Belong: A Black-Led Lending Initiative Aiming to Boost Homeownership Among Detroit's Black Community

As of 2023, homeownership among Black residents in Detroit is around 49.7%, while white residents enjoy a higher rate of 57.9%, underscoring a significant racial divide. This issue becomes more pressing as Black individuals represent approximately 77% of the city's population. Detroit's Downpayment Assistance Program (DPA), initiated this year, has made strides in fostering Black homeownership, offering up to $25,000 in aid and benefiting over 300 residents, 93% of whom are Black. Unfortunately, Black applicants still face denial rates for mortgage loans that are double those of their white counterparts. Belong Lending aims to mitigate these disparities by providing client-focused mortgage services, emphasizing empowerment and financial literacy. Their grand opening celebration on May 31, 2025, promises community engagement and support, featuring local partnerships and festivities.