New Programme Aims To Incentivize Homeownership In Black And Brown Communities
By Candace Sweat
For first-time homebuyers, waiting for the opportune time to jump into the market is critical.
A new mortgage programme aims to close the ownership gap for minority homebuyers while bolstering historically Black and Latino communities.
The decision to buy a home for the first time is huge. Executing that decision can be daunting.
“It is challenging when you’re living paycheck-to-paycheck or you have other bills lined up on a monthly basis where you’re left with just a little bit at the end of that month,” said Stephen Lewis, who is the president of the National Association of Real Estate Brokers Dallas.
Lewis says he is excited about a new programme already making waves in the industry — one that could have a far-reaching impact in Black and Brown communities and kickstart someone’s journey to homeownership.
“That’s still that dream for someone in that family and right now this could play a huge role in that outcome,” Lewis said.
Bank of America rolled out the programme this week for its zero down payment, zero closing cost mortgage for first-time buyers in five markets across the country – including the Dallas area.
