Lenders Work to Close the Racial Gap in Homeownership

There are countless hurdles to homeownership, but lenders are working to alleviate homebuyers’ stress.

Lenders are offering grant programs to minority communities.

 

Black homeowners tell us how they feel about the buying process.

Local Homeowner Lonnie Davis says, “If you had a lot more grants and help like that, I think a lot more people would be able to live their dream and have their dream home.”

 

Davis says he feels all minorities deserve a chance to buy a home.

“And in particular, the African American community because we all know that it is a lot more difficult for us, you know the way we grew up, all of us usually don’t grow up very well and with good living homes.”

 

Davis says grant money would have made purchasing a home easier.

“I was fortunate enough to have the down payment and things like that to be able to purchase my home, but a lot of people don’t have that luxury.”

 

Davis says he is grateful Julian Berry helped his family through the process.

“I didn’t have any idea where to start, where to go, what to do, he walked me through the whole process, he set me up with everything, he literally grabbed me and my wife’s hand and walked us through the whole process, he was amazing.”

 

Mortgage Loan Officer Julian Berry says the best part of his job is helping people find their dream home.

“A lot of people may not be ready yet, but they may not be that far away, so we take that extra step to show them what they need to do to get there and once they’re there, we show them what to do every step of the way.”

 

Davis wants more people to take advantage of buying a home versus renting.

“Having the opportunity to buy one, you’re paying the same amount in mortgage as you would in rent. As least you’re paying towards something that’s going to be yours.”