WASHINGTON INFORMER: Legacy Home Loans, a Black-owned national mortgage banking firm based in Las Vegas, has launched a program giving new opportunities to prospective Black homebuyers whose mortgage applications were denied by large banks.
The “Second Look” program encourages those homebuyers to have their applications reexamined with Legacy Home Loans, which aims to give them information needed to move forward in the home-buying process.
“Sometimes an approval vs. denial could just be having the right loan program to offer the homebuyers that best fits their needs and qualifications of the homebuyers and not the best interests of the big banks,” said Ben Slayton, Legacy founder and CEO.
Slayton’s firm will review the application to see if a homebuyer qualifies for one of the loan programs it manages. According to the most recent Home Mortgage Disclosure Act, Black borrowers had a denial rate of 27.1%, nearly twice as much as whites with 13.6%.
For more information about the “Second Look” program, call 844-466-3669 or go to https://www.MyHomeLegacy.com.
