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Juneteenth: Honoring the Legacy of Freedom for All

Juneteenth Freedom Day over red, black, and green

June 19 is a momentous and important day for many people in the United States. The day, known as Juneteenth, commemorates when the scourge of slavery ended in this country: June 19, 1865. It’s important to know that June 19, 1865 was not the date that Emancipation Proclamation went into effect – that happened more than two years earlier.

June 19, 1865 was the day that federal troops under the command of General Gordon Granger arrived in Galveston, Texas and decreed that the more than 250,000 enslaved Black people in the state were now free. On that day, Granger read what is known as “General Orders No. 3”, which stated: “The people of Texas are informed that, in accordance with a proclamation from the Executive of the United States, all slaves are free.”

The following year on June 19, freed slaves gathered in Texas to celebrate their freedom. The Juneteenth celebration continued yearly, growing every year, and spreading across the country until it became a proud tradition for Black people nationwide.

Eventually, Texas declared Juneteenth a state holiday, formalizing its importance in 1979. Other states did the same over the years. Then, in 2021, Congress passed a law-making Juneteenth a national holiday, which President Joe Biden signed into a law on June 17, 2021. Juneteenth is first new federal holiday since Martin Luther King Jr. Day became a holiday in 1983.

While Juneteenth may be the newest federal holiday, celebrating the day and honoring its importance to the Black community is not a new phenomenon. Nor is supporting the Black community, something New American Funding has been doing since its founding in 2003.

New American Funding was co-founded by Patty Arvielo, a first-generation Hispanic American, who knows firsthand what it is like to face socioeconomic barriers, bias, and discrimination when trying to make her way in this country.

Those experiences led Patty to help NAF become a leader in lending to minorities, including the Black community. It also drove her to create special initiatives to help those in underserved and marginalized communities overcome the obstacles society has put in their way.

One of those initiatives is New American Dream, which was established in 2016. New American Dream combines hard work, integrity, teamwork, and continuous learning to increase the rate of Black homeownership in America. Its purpose is to provide racial equity and build consumer confidence through homebuying education, accessibility to credit, and mortgage industry career opportunity awareness to Black communities.

Through New American Dream, we empower the Black community to obtain educational resources, products, services, partnerships, and in-market support to achieve sustainable homebuying and investment purchase goals.

New American Dream also works to provide complete support to the Black community by helping them to overcome the racial wealth gap through the wealth creation generated by homeownership. As part of our efforts, we mirror the communities we serve by placing qualified community lending professionals in each market nationwide. We also partner with local organizations in the communities we serve to provide outreach and education.

These actions are only part of the equation. NAF has also committed to lending $20 billion to Black borrowers over the next five years. This commitment is a cornerstone of our efforts to help deserving individuals nationwide build wealth and own their own home.

We also have special programs designed to help certain clients overcome financial barriers that may stand in their way, including:

  • Pathway to Homeownership – Everyone deserves the chance to build wealth by owning their own home. With the Pathway to Homeownership program, first-time homebuyers, in select areas, may be eligible for up to $8,000* in down payment and closing cost assistance!
  • 5-Year Rate Protection Pledge– With our 5-Year Rate Protection Pledge, you may be able to refinance with no repeat lender fees or appraisal fees** if rates drop in the next five years after you lock-in your rate! This gives you peace of mind to know you can purchase your dream home now, and refinance to a lower rate later.
  • NAF Cash – NAF Cash, an affiliated company of New American Funding***, can turn you into a cash buyer and put you in a great position to secure your dream home, maybe even for under the asking price. Buying in cash may help you save up to 11% over those using a traditional mortgage****.

NAF believes in the power of Black homeownership and works tirelessly to support the dreams of deserving individuals and families across the country. As we celebrate Juneteenth, we know that the fight to overcome centuries of slavery is nowhere near finished, and we’re proud to play a small part in helping to build a better future for all.


The National Museum of African American History and Culture – The Historical Legacy of Juneteenth – What is Juneteenth?

The White House - A Proclamation on Juneteenth Day of Observance, 2021

*Due to maximum seller concession rules, discount can be less than $8000 in some cases where other concessions have been made to the consumer. This is not a loan commitment or guarantee of any kind. All mortgage loan products are subject to credit and property approval.

**If rates change, you may qualify for a refinance loan with New American Funding. New American Funding will cover the cost of an appraisal up to $500. Applicants are responsible for any amount in excess of $500. To qualify the client will be required to provide a complete application, submit requested documentation, and have their credit pulled. Refinance offer is available after six (6) payments have been made on the original purchase loan. Terms and conditions are subject to change without notice. Due to maximum seller concession rules, discount can be less than $500 in some cases where other concessions have been made to the consumer. Contact your loan officer for more information. By refinancing your existing loan, your total finance charges may be higher over the life of the loan.

***NAF Cash is fulfilled by NAF Cash LLC, an affiliated real estate company of New American Funding that is managed and operated in compliance with applicable legal and regulatory requirements.  NAF Cash LLC does not originate loans or issue loan commitments.  Terms and Conditions apply.  Not available in all states.  MI Real Estate Broker #6502431375.  41050 W 11 Mile Rd, Suite 220, Novi, MI, 48375. Phone 844-344-0531. 

****According to a study from researchers at the University of California - San Diego, cash buyers have paid about 11% less than using a mortgage. Reher, Michael and Valkanov, Rossen, The Mortgage-Cash Premium Puzzle (September 24, 2021). Available at SSRN: or

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