Nearly all African Americans dream of owning their own home. Most can actually qualify for a Home Loan, even if they think they could not get approved. Many banks require people to have good credit. However, there are many lenders who will make a bad credit loan and there are also programs like the Fannie Mae, FHA and VA loans that will help you get approved. If you too wish to become a home owner, complete he information below and a friendly customer service person will work with you online, telephone or in person to get you on your way to "Home Ownership" today. An apartment is not a house, and a house is not a home, unless you own !
How Much House Can You Afford?
How much house you can afford depends on how much cash you can put down and how much a creditor will lend you. There are two rules of thumb: You can afford a home that's up to 2 1/2 times your annual gross income. Your monthly payments (principal and interest) should be 1/4 of your gross pay, or 1/3 of your take-home pay. Pre-qualify for a home loan, get approved and become a "cash buyer" to negotiate a more competitive home purchase price.