What do I need to know Before I start the home buying Process?
find a real estate agent who has experience in your local market and can guide you throughout the entire home buying process. They can help you find the right home, negotiate the purchase price, and navigate the paperwork.
HOW MUCH WILL IT COST ME?
You should contact a mortgage lender To determine what you can afford and secure financing, you must get a pre-approval letter.
How should I get started TO BUY
Complete home buyer education and/or contact a real estate professional
How can i support black homeownership awareness week?
Our mission is to level the playing field for Black Americans, who have faced systemic barriers to homeownership and provide resources that can economically empower people in black households.
Historically, black individuals and families have faced significant barriers to homeownership, including systemic racism like redlining and white flight, which have prevented black households from accumulating wealth at the same rate as white Americans.
In 2022, 74.6% of White households owned their homes, compared with 45.3% of Black households — a gap of more than 29 points.
In 1960, the White homeownership rate was 65%, and the Black rate was 38%, a 27-point gap.
In 2019, White householders had a median household wealth of $187,300, compared with $14,100 for Black householders and $31,700 for Hispanic householders
In the second quarter of 2022, the homeownership rate for white households was 75% compared to 45 % for Black households.
-U.S. Department of Treasury
WE BELIEVE WE CAN CHANGE THE WORLD
We must increase the black homeownership rate to provide economic equality for all and accelerate economic growth in the U.S.
When we increase the Black homeownership rate, we not only lessen the wealth gap, but homeownership also strengthens families and neighborhoods for generations to come.
When a significant share of the population is unable to fully participate in the economy, private consumption and investment suffers, stifling GDP growth.
The basic economic premise that returns to investment exhibit diminishing returns suggests that the largest gains to our economic potential as a nation come from addressing disparities that hinder the ability of the least advantaged families to invest in their future.
-U.S. Department of Treasury
Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families
-National Association of Realtors
"We believe that the Black Homeownership Awareness Week campaign can ultimately increase the black homeownership rate in America. We know that a higher black homeownership rate leads to equality for black neighborhoods and will also lessen the racial wealth gap here in America”
Black Home Project
Black Homeownership Awareness Week (BHAW) starts February 18th. Real estate professionals around the country will rally to promote a black homeownership awareness campaign that includes:
This February we will make a national call to actively support Black Americans in homeownership by challenging black americans to take action toward homeownerhsip and educating the general public on the economic impact of black home ownership in America.
"That was a great question... so let's talk about building credit..."
#BHAW Home Buyer & Financial Literacy Workshops
This year we will focus on building partnerships between real estate brokers, banking professionals and community organizations to provide education from finance basics like credit and savings to the home buying process.
Black Homeownership Awareness Week
MARYLAND Realtor Info-Session
Learn how to partner with Black Home Project and real estate professionals around the country for Black Homeownership Awareness Week.