In Canada, it is both legal and publicly supported to offer race-based mortgage financing. The Black Opportunity Fund launched a $50 million mortgage assistance program exclusively for black people.
Through a shared equity partnership with private firm Ourboro Inc., the fund contributes up to $250,000 toward a home’s down payment. In return, the fund co-owns a portion of the property and shares in future profits when the home is sold.
No other racial group in Canada has access to this program.
The Black Opportunity Fund housing initiative was created to address the homeownership gap between Black Canadians and the general population. According to the Canada Mortgage and Housing Corporation, only 44 per cent of Black Canadians own homes, whereas 66.5 per cent of all Canadian households are owner-occupied. The fund is structured to help first-time buyers overcome the down payment hurdle, which is a key barrier to homeownership, but only if they’re black.
While the fund is privately financed, black applicants are also eligible for all public homeownership supports available to any Canadian regardless of skin colour. These top-ups include the First-Time Home Buyer Incentive from the federal government, which offers up to 10 per cent of a home’s value through a shared equity loan. They can also use the RRSP Home Buyers’ Plan, which allows tax-free withdrawals of up to $60,000 for a down payment. In addition, eligible buyers may receive GST or HST rebates on new homes and land transfer tax rebates at the provincial and municipal levels.
This means that a black Canadian may combine exclusive race-based assistance from the Black Opportunity Fund with all general supports available to other Canadians. The result is a layered advantage that non-black Canadians cannot access, regardless of financial need.
Although the fund itself is privately run, the federal government has been an active supporter and the broader push for race-based funding. Since 2018, Ottawa has allocated over $860 million toward black-only programming. In February 2024, Prime Minister Justin Trudeau announced the extension of Canada’s participation in the UN’s International Decade for People of African Descent and emphasized ongoing investment in black-led organizations. In January 2025, the government announced more than $1 billion in new funding for black communities, with significant portions directed toward housing, youth, mental health, and community development.
The Black Opportunity Fund has also partnered with Habitat for Humanity GTA to launch a housing initiative that provides mortgage assistance exclusively to black families. Applicants must be first-time buyers, employed in Canada for at least three years, and self-identify as black. Income eligibility ranges from approximately $65,000 to $130,000 per household.
The legal basis for these programs falls under Section 15(2) of the Canadian Charter of Rights and Freedoms, which allows for remedial measures that aim to improve conditions for disadvantaged groups. However, there are no equivalent housing assistance programs for Canadians of Asian, Arab, Latin American, or European descent. Indigenous Canadians do have access to targeted housing programs, but these are linked to historic treaties and constitutional responsibilities.
In a time when homeownership is out of reach for many, the existence of race-exclusive mortgage support raises a fundamental policy question. Should publicly endorsed housing assistance be tied to race, rather than need? When Canadians of all backgrounds are struggling to afford a home, some are being helped based not on income or hardship, but on identity. Others are left out entirely.