Ever since I heard about the new loan program Legacy Home Loans was releasing, I have been bugging my preferred lender, Charles Wilson, to get on my podcast to talk about the details of the loan.

The Closing the Gap loan program that is geared towards black and brown people will be available starting October 17, 2022. At the time of this recording, Charles did not have all of the details about the loan but we will follow up with him in a couple of weeks to learn more about the qualifications once the program is released.

Ben Slayton is the owner of Legacy Home Loans whose mission is to empower the African American Communities throughout the United States with a focus on building sustainable wealth through homeownership and leaving a family legacy.

In this episode, I talk to Charles about his journey as a loan officer, the closing-the-gap legacy home loans program, and other positions in the mortgage industry.

Here is an overview of the requirements (what we know now):

• Must have a minimum credit score of 620

• Must be purchasing a primary home (no investment properties)

• Must currently live in a participating zip code

• No limit on where you can purchase

• Debt-to-income ratio less than 45%

• Interest rates based on Fannie Mae

• 1% down + money towards closing

• $500 credit toward home warranty

The Closing the Gap pilot program will be in Baltimore, Atlanta, Memphis, Chicago, Detroit, and Philadelphia. If you are located in one of these cities and would like more information, send an email to hello@tabitharichardson.com or contact Charles below. Let him know you found him on my podcast!

If you are not quite ready to purchase but would like to learn more about the homebuying process, purchase my book How to Buy a House in 12 Months on Amazon. Click to order now https://amzn.to/3yDwEyU

Dont' for get to subscribe to my channel!

Charles Wilson

Branch Manager | NMLS ID #235731

cwilson@myhomelegacy.com

cwilson.myhomelegacy.com

(410) 963-5992

Licensed in CA, CT, DE, DC, GA, IL, MD, NJ, NC, PA, SC, VA,

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