It's simple. When people invest in their neighborhood, they care what happens to it. Afterall, it's the biggest investment that they will probably



make during their lifetime.

According to the U.S. Census bureau homeownership for all races have been

steadily rising. This is great news for the African American community, but

more work needs to be done to narrow the gap in homeownership between

segments of the population. The statistics for homeownership in the year

2005 were as follows:

Non hispanic white: 75%

Asian and Native American: 59.4%

Latino: 49.7%

African American: 48.8%

Studies show that, homeownership still eludes low income families. If you

are thinking of owning a home, know that the dream is possible. The Housing

and Urban development provides the following guides for consumers of all

income ranges, when considering homeownership.

1.Figure out how much you can afford. This is extremely important as it sets

the tone for your home search. What neighborhoods should you consider? What

type of home should you buy: condo, townhome, single-family-home (SFH)?

2. Shop for a loan. Find a service that offers multiple loan quotes at no

charge. Do this first BEFORE you seriously start looking for a home. Most

sellers require pre-qualification before they allow you to make an

offer. In addition, it ensures that you can qualify for the right loan

amount.

3. Shop for a home. Based on how much you can afford and how much a

mortgage lender has qualified you for, you can now find a home that meets

your needs.

4. Make an offer. If you are working with a real estate agent, they can

make an offer to the home seller.

5. Go to closing. A settlement attorney will draw up the final paperwork to

ensure that the title for the home is free and clear of any liens.

Lastly, congratulate yourself. Keep the dream alive!