JPMorgan Chase commits $750 billion to boost US housing supply

JPMorgan Chase plans to deploy more than $750 billion through 2035 to expand U.S. housing supply and support homeownership, financing roughly 1 million affordable units and lifting mortgage capacity by 40 percent.

"The view from up high is the American dream is getting further out of reach, and we have a role to play," Sean Grzebin, CEO of Chase Home Lending, said in an interview.

The initiative, part of the bank's American Dream Initiative, targets 500,000 home purchases including 200,000 first-time buyers, and adds 850 loan advisors. In 2025, JPMorgan produced over $48 billion in originations across more than 90,000 transactions, ranking as the No. 1 depository mortgage lender by loan count, according to IEmergent analysis of Home Mortgage Disclosure Act data.

The commitment arrives as the average U.S. starter home hit a record high in mid-2025, per Redfin, and follows similar pledges from Huntington Bancshares and Citigroup. JPMorgan will chair the U.S. Chamber of Commerce's new housing advisory council, launched last week.

The bank will expand financing through debt, equity and grants to create and preserve housing supply, including the preservation of 1 million affordable units. It will also prioritize advocacy for policies that remove impediments to housing development, including the 21st Century ROAD to Housing Act, which became federal law on July 11 and is designed to boost housing supply and curb large investor purchases.

Chase will begin the rollout in five markets: Alabama, San Francisco, Philadelphia, Atlanta and Los Angeles. In San Francisco, where extreme costs have stalled shovel-ready projects, JPMorgan recently provided financing to help deliver 105 permanently affordable apartments in the Dogpatch neighborhood's Power Station development. The firm then committed nearly $200 million for an additional 342-unit residential building in the same redevelopment.

Peer banks pledge $140 billion more

The initiative comes as mortgage professionals increasingly cite the lack of affordable entry-level properties as the biggest roadblock for first-time homebuyers. Redfin analysis from late 2025 found the average price of a U.S. starter home reached a record high last summer, putting even the most affordable properties beyond reach for many.

Chase's announcement follows a similar community investment initiative rolled out in late July by Huntington Bancshares. Following meetings with more than 350 organizations, Huntington said it would introduce an $80 billion investment plan focused on neighborhoods with the greatest economic needs, with half going to mortgage and consumer lending.

Earlier this year, Citigroup introduced a five-year, $60 billion Blueprint for Housing Opportunity focused exclusively on increasing housing affordability through supply. The plan includes $50 million in grants to nonprofits and is expected to create at least 250,000 units across the country.

Rollout starts in five markets

JPMorgan is the largest multifamily lender and the largest mortgage lender in the U.S., giving it a vantage point to identify solutions that can be scaled. Karen Purcell, head of community development banking at J.P. Morgan, said the firm is mobilizing multiple business lines that support the housing ecosystem.

"We're disseminating information to equip our bankers with, and putting the policy and programs and subsidies and the whole toolkit in our teams' hands," Purcell said.

The bank also plans to improve consumer-facing technology and introduce new loan products, with potential increased demand for manufactured and modular construction. The manufactured housing industry received a boost this summer with passage of the 21st Century ROAD to Housing Act.

"When financial institutions make bold commitments and invest in strong community partnerships, the impact extends far beyond dollars and cents," Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said in a press release.

The combined pledges from the three banks total $890 billion, a scale that could meaningfully shift the trajectory of U.S. housing supply over the next decade. JPMorgan said it expects the initiative to lead to 500,000 purchases, with 200,000 customers achieving homeownership for the first time, and will work with affordable-housing organizations including down-payment assistance programs to lower costs for borrowers.

This article is for informational purposes only and does not constitute investment advice.