homebuyer education: Black homeowners struggle as US housing market recovers
- 07/10/17 05:45 PM
Black homeowners struggle as US housing market recovers By JANIE HAR, Associated Press Jul 9, 2017 10:33 AM CDT SAN FRANCISCO (AP) — Yul Dorn and his wife raised their son and daughter in a three-bedroom home crammed with family photos, one they bought in a historically African-American neighborhood in San Francisco more than two decades ago. Today, the couple is living in a motel after they were evicted last year, having lost a foreclosure battle. A second home they inherited is also in default. The Dorns expect to join the growing ranks of African-Americans who do not … (0 comments)
Borrowers must meet the following requirements: • Occupy the residence as their primary residence; non-occupant co-borrowers are not allowed. You don't have to be a first time homebuyer. • Qualifying income cannot exceed NHF income limits for the county in which the property is located: 115% Area Median Income (AMI). Refer to www.nhfloan.org. • Minimum Credit Score of 620. • Maximum DTI (Determined by AUS) Manual underwriting not allowed • Meet all required FHA underwriting criteria. • Manufactured Housing not allowed MAXIMUM LOAN AMOUNT The lesser of $417,000 (not including MIP) or maximum loan amounts permitted by HUD
Black homeowners struggle as US housing market recovers By JANIE HAR, Associated Press Jul 9, 2017 10:33 AM CDT SAN FRANCISCO (AP) — Yul Dorn and his wife raised their son and daughter in a three-bedroom home crammed with family photos, one they bought in a historically African-American neighborhood in San Francisco more than two decades ago.
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