WHAT

Noir Black Chamber of Commerce Inc. is excited to announce the launch of its online HUD-Approved Homebuyer Educations Certificate Course, in partnership with eHome America! This new online platform makes it easier for black families to become homeowners, and it allows the chamber to continue its mission to move black and brown families from renting and redlining to homeownership.

 

The Chamber’s homebuyer education program is unique in that it a FREE program that “walks with” each client through the entire process towards homeownership. The program begins with identifying which type of homebuyer the client is, followed by connecting them to a credit restoration and repair organization, online homebuyer education course, mortgage lenders, city’s down payment assistance program (If program is available in your city), a realtor, an insurance broker, then a financial planner to assist the family plan for its future.​

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WHY

As the country grapples with an affordable housing crisis, there’s an even larger issue of closing the gap in homeownership rates among Black Americans due to redlining and deed-restricted covenants, which made it impossible for Black families to own homes. Since the 2008 financial crisis, the Black homeownership rate has fallen behind; and the gap between Black and white homeownership is now wider than it was more than 50 years ago, right before the 1968 Fair Housing Act was enacted to create equal housing opportunities for minorities, according to a report by the Urban Institute.

 

In an effort to assist black individuals and families move toward homeownership, Noir Black Chamber of Commerce Inc. created a free eleven step homebuyer education program that supports and guides clients through each of the eleven steps towards homeownership.

 

HOW

Program Process​

STEP 1

WHICH TYPES OF HOMEBUYER ARE YOU?

[A]

SECTION 8 RECIPIENT?

YOU MUST BEEN ON SECTION FOR AT LEAST 1 YEAR

Must Contact Your Section 8 Representative! 

OR

[B]

TRADITIONAL HOMEBUYER?

FIRST-TIME HOMEBUYER | MILLENNIAL | VETERAN

We Can Assist You!

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STEP 2

CONNECTED TO CREDIT RESTORATION PROGRAM

CREDIT SCORE REQUIREMENT

Must Have A FICO Credit Score 585+

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STEP 3

TAKE ONLINE HOMEBUYER EDUCATION COURSE

ONLINE NOIR HUD-APPOVED HOMEBUYER COURSE

Course-$99.00

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STEP 4

HOMEBUYER SHOWS FUNDS AVAILABLE

Must Show $1,500-$2,000 In Savings

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STEP 5

HOMEBUYER CONNECTED TO REALTOR

Assess Homebuyer's Housing Needs

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STEP 6

REALTOR CONNECTS HOMEBUYER TO MORTGAGE LENDER

Mortgage Lender Gets Loan Preapproved

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STEP 7

HOMEBUYER APPLIES TO CITY’S DOWN PAYMENT ASSISTANCE

If Program Is Applicable In Your City

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STEP 8

REALTOR ASSISTS HOMEBUYER SEARCH FOR HOME

Home Purchase Amount

Mortgage Lender Preapproval Laon Amount + Additional Down Payment Amount

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STEP 9

REALTOR CONNECTS HOMEBUYER TO INSURANCE BROKER

Identifies Best Affordable Insurance Policy

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STEP 10

HOMEBUYER SELECTS AND MAKES OFFER ON HOME 

 Realtor Will Facilitate Negotiations

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STEP 11

HOMEBUYER'S PURCHASE OFFER IS ACCEPTED 

 Realtor Oversees Paperwork 

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STEP 12

REALTOR SETS UP HOME INSPECTIONS

Realtor Ensures House Is In Order

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STEP 13

REALTOR SETS CLOSING DATE

Homebuyer and Seller Meet To Sign Documents

 

STEP 14

HOMEBUYER MEETS REALTOR AT THE HOME

Homebuyer Receives Keys And Is Ready To Move In!

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Enroll In Program!!