FOR IMMEDIATE RELEASE
September 29, 2026
MADISON, WI – Own It: Building Black Wealth awarded nine down payment grants in 2026: five in February and four in August. Each $19,000 grant is a gift, not a loan, with no strings attached, to be used toward the purchase of a first home. Together, the grants total $171,000.
In August, for the first time, qualified applicants outnumbered available funds. Own It had five applicants and enough money for four, and held its first lottery to award the grants.
“Five families did the work this year. They finished our education program, they worked with a mentor, they applied, and they were ready,” said Sara Alvarado, Interim Executive Director and Co-Founder of Own It. “Unfortunately, we only had enough funds for four grants. That’s the first time we’ve had to leave it to a lottery, and I don’t want it to happen again. We want every family who does the work to get a down payment grant.”
Homeownership is the largest source of wealth for most American families, and the gap in who gets to own a home drives the racial wealth gap. In Dane County, only 13% of Black householders own their homes, compared to 64% of white householders, according to 2024 data from the Dane County Regional Housing Report.
Before receiving a grant, every Own It homebuyer completes Own It’s education program, which covers homeownership and wealth-building and includes mentorship and ongoing support.
“A lot of people never try because it feels like such a steep hill with so many moving parts. I tell my colleagues to take the first step and enroll in the education program,” said Victor P., an Own It homeowner. “An intimidating path is best walked with a lantern and a companion, and Own It provides both.”
To date, 34 families have used Own It down payment grants to purchase homes, with one closing scheduled in October. That’s $10.2 million of real estate owned by Own It homeowners. The next grant cycle opens February 1, 2027.
Own It invites community members, donors, and businesses to give to the Down Payment Fund. Every $19,000 raised means one more family doesn’t have to leave it to chance. Real estate and finance professionals can also contribute through the Own It Ambassador Program. Learn more at ownitmadison.org.
About Own It: Building Black Wealth
Own It: Building Black Wealth is a transformative initiative to increase generational wealth in Black and brown communities through homeownership. Driven by Madison-area community members and professionals in the real estate, banking, and financial sectors, this private-sector collaboration offers two critical components: a financial education program and access to $19,000 down payment grants with no payback required. In partnership with One City Schools, Centro of Dane County, and Anesis Therapy, we’re removing barriers, creating access, and building generational wealth.
Media Contact:
Sara Alvarado
Interim Executive Director and Co-Founder
Own It: Building Black Wealth
[email protected] | 608-438-5005
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First-time Own It homeowners with Realtor and Ambassador Belinda Thomas, credit Dynae Allice Photography