Elevate’s Technological Innovation Fuels Project Own’s Mission to Close the Homeownership Gap
SUCCESS STORY
Elevate’s Technological Innovation Fuels Project Own’s Mission to Close the Homeownership Gap
Discover how Project Own and Elevate are bridging the racial wealth gap through innovative financial technology.
The Background
Project Own is a non-profit focused on empowering Black communities by improving access to homeownership and fostering wealth creation through financial education and resources.
In the landscape of financial disparities, the racial wealth gap in homeownership stands as a stark emblem of systemic inequality. Project Own, with its mission to build new tools for Black wealth creation, confronted this challenge head-on, seeking to increase Black access to homeownership.
The cornerstone of their strategy was the WEALTH Coaching platform, a tech-enabled solution designed to guide potential homeowners through the complex journey to mortgage readiness.
This case study illuminates the pivotal role of Elevate’s technology in Project Own’s remarkable success, detailing how a bespoke digital solution can not only revolutionize individual financial health but also catalyze broad societal change.
The Challenge
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Vast difference in median wealth of White vs Black Households
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Urgent need for mortgage readiness among Black individuals
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Requirement for a scalable solution to expand service delivery
Black Households
$9,567
White Households
$171,700
Our Solutions
Elevate’s response was a technology platform tailored to the unique requirements of Project Own’s WEALTH Coaching program.
User-Friendly Interface
Easy access to financial coaching, progress monitoring, and plan management
Customized Algorithms
Personalized coaching strategies for mortgage readiness based on individual financial data.
Scalable Architecture
Supports growing user base while maintaining performance and functionality.
The Results
99
Clients
Attained mortgage readiness
134%
Uptick
In year over year clients served
$19m
Increase
In mortgage purchasing power
$2292
Saved
On average per graduate
