Home News A Mortgage Loan, Just for Black Borrowers! Offered by the Nation’s Largest Black-Led Mortgage Company

A Mortgage Loan, Just for Black Borrowers! Offered by the Nation’s Largest Black-Led Mortgage Company

by admin
0 comment

heritage House Loans, the nation’s largest black-led mortgage company, Las Vegas, Nevada announced today that it has developed a “Special Purpose Credit Program” (SPCP) for black people who want to become homeowners

That’s right, this loan program was developed by Black Mortgage Professionals for black borrowers. No one knows our people like we do. Ben SlaytonThe President and CEO of LEGACY Home Loans said:

LEGACY’s SPCP Loan Program operates in Atlanta, Baltimore, Chicago, Detroit, memphisWhen According to media reports, Philadelphia release. Borrowers must currently reside in 6 city census tracts with at least 51% black population. However, there are absolutely no restrictions on where Black homebuyers can buy their new homes.

WHY LEGACY NAMED THE NEW SPCP loan program: CLOSING the GAP because there is a 30% homeownership gap between blacks and whites. This means that only 4 of her 10 households own the house they live in. This is in contrast to 7 (7) of the 10 white families who own the house they live in. So there is a 30% homeownership gap. LEGACY’s CLOSING the GAP mortgage program aims to fill this 30% homeowner gap.

The CLOSING the GAP loan program requires only a 1% down payment and includes a free appraisal, a free home warranty program, free pre-purchase home buying counseling, free post-closing home buying counseling, and financial assistance for closing costs. The CLOSING the GAP loan program uses credit guidelines based on factors such as timely rent, utility, phone, and car insurance payments. Underwriting guidelines are based on income of borrowers with a minimum credit core of 620.

“There may be other companies offering similar SPCP loan programs, but don’t be fooled. LEGACY Home Loans is a place that is not just tolerated, it is admired.” said Slayton.

LEGACY’s goal is to fund $Billion black homebuyers by the end of 2023Billion Each year after that, we tell black homebuyers even more. Slayton has been a leader in the African American community since becoming the first African American REALTOR.® America’s First Century 21 Franchisee Broker Owner, America’s First freddie mac Multifamily Program and American Seller/Servicer. Slayton has started, built and sold several successful businesses in the real estate and mortgage industry. He is currently President and CEO of LEGACY Home Loans. For more information on LEGACY Home Loans and the termination of the GAP Loan Program, please visit his website for the following companies: https://www.MyHomeLegacy.Com Or call (844) 466-3669.

You may also like