SoFi and The Jayson Tatum Foundation Host The First of Many Financial Literacy Workshops For First-Time Homebuyers in St. Louis

By SoFi | Apr 14, 2025 | Uncategorized | Comments Off

Last year, we set out a mission to democratize access to family-sustaining wealth by establishing the SoFi Generational Wealth Fund. Through these initiatives, we focus on empowering underserved communities to get their money right and achieve their ambitions so we can help close the generational wealth gap in America.

So far, SoFi has committed over $2 million to these causes, including supporting underfunded school athletic programs, offering resources to lower the maternal mortality rate and help parents make family financial plans, and funding projects dedicated to improving women’s financial independence. We make the needs of the communities that surround us our personal mission, because we understand how closely related your financial independence is to your ambitions.

One of the first initiatives we launched within this fund is a low-income first-time homebuyer grant program in partnership with six-time NBA All Star Jayson Tatum and his foundation. We committed to deploying $1 million in resources and aid to help first-time homebuyers achieve homeownership in St. Louis. Jayson matched our donation, putting a total of $2 million behind the effort to support low-income first-time buyers in his hometown.

“Growing up in St. Louis, I saw firsthand how important financial stability and homeownership could be for families like mine. Through our partnership with SoFi and their investment in our region with their Generational Wealth Fund, we’re giving people in my hometown the tools and knowledge to take control of their financial futures. I’m proud to give back to the community that made me who I am.” – Jayson Tatum

On April 5th, we brought this program to life, hosting our first financial literacy workshop in partnership with the Jayson Tatum Foundation and our program’s executional partner, Beyond Housing. During the workshop, SoFi’s experts, Brian Walsh SoFi CFP®, Head of Advice & Financial Planning, and Kara Whitman, SoFi Mortgage Loan Officer, spent the day guiding the 160 aspiring homebuyers through what to expect before and during the process.

Brian Walsh provided guidance on the financial steps each homebuyer should take to prepare themselves, including how to protect their income and tackle any existing debt they may have, while Kara Whitman walked them through the homebuying process, including how to assess their mortgage options and how to tackle each step of the way! The event wrapped up with both experts offering an hour and a half of small group chats to answer the attendees’ enthusiastic inquiries, ensuring they left feeling equipped and empowered to tackle this process head on!

According to a recent study, 86% of American renters say they would like to buy a home – but can’t afford one. The biggest challenge for a first-time homebuyer is actually getting their foot in the door, which is often blocked by the high up-front costs (down payments, closing costs). The goal of this program is to get nearly 100 families into their first homes by the end of this year, and has been designed to provide them with the support they need across educational resources and financial aid for closing costs.

While this all sounds impactful, you may be wondering how exactly this workshop and program relate back to creating generational wealth… One of the long-established ways of building wealth and financial stability is through real estate: properties usually appreciate in value over time, and sometimes can even provide cash flow to a family if they opt to turn it into a form of passive income.

If you are a first-time homebuyer from the St. Louis area, please check out the homebuyer grant program. Otherwise, if you are looking to learn more about how to Get Your Money Right®, head to SoFi to see how we can help you achieve your ambitions.

Terms and conditions apply. Before you apply for a SoFi Mortgage, please note that not all products are offered in all states, and all loans are subject to eligibility restrictions and limitations, including requirements related to loan applicant’s credit, income, property, and loan amount. Minimum loan amount is $75,000. Lowest rates are reserved for the most creditworthy borrowers. Products, rates, benefits, terms, and conditions are subject to change without notice. Learn more at SoFi.com/eligibility-criteria. Information current as of 4/14/25.

SoFi Mortgages originated through SoFi Bank, N.A., NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org). Equal Housing Lender.