Home Buyer Financial Matter Seminar
By Jewelean Magee
A home ownership seminar was held at the Frank E. Merriweather Library Branch located at 1324 Jefferson Avenue on August 21, 2024 featuring representatives from M&T Bank, (1300 Jefferson Avenue), Buffalo Urban League, the Mootry, Murphy, Burgin Realty Group (MMB) and WUFO Radio.
The seminar was aimed at getting vital information to future home buyers so that they can make wise decisions in home/ property buying. To begin with, Ms. India Walker, branch manager of the Jefferson M&T branch spoke about the importance of having good credit when buying a home. “Good credit is the underlying rule in buying a home or even renting an apartment. Paying bills on time can show a good standing and rating on a credit report. The bank will help customers look and see what a credit report says, offer to help improve their credit scores, and offer ways to help customers save for their down payments through various bank accounts available. “Said Ms. Walker.
Ms. Shelly Freir, M&T Bank Mortgage Officer at the Broadway Branch at 999 Broadway Street gave helpful advice on the pre-approval process by assisting the home buyer in telling them that they must meet the requirement of 2 years of full time employment, money for the home inspection, and aim for the 5% of the purchase price of the home. She also said that a high credit score will give better mortgage options, plus taking the first time home buyers class would be good as well.
Ms. Rosalind Burgin of MMB Realty Group ( Mootry, Murphy, Burgin) located at 651 Delaware Avenue, has been in business for 4 years and the realty company has grown tremendously.
Their aim is to help people get generational wealth through home owner ship. The realtors let their clients know what it takes to buy a house from start to finish. According to Ms. Burgin “A house is the largest purchase a person can make. An inspection of the home is necessary to see if the house a person want to buy is in good condition.
The group handed out books titled “Home buyer’s packet that speaks of what the perspective buyer/ seller should know from the various check off lists proved in the book. “One main thing the buyer/seller should do is interview the realtor. The realtor should be knowledgeable and go through the entire process of home buying. They are working in your best interest.” She went on to say that “If a person is paying rent, they are paying the landlord’s mortgage, car notes, and kids’ education and so on, when the renter can be paying their own mortgage. It’s better to own your own home.
Beverly Moore of the Buffalo Urban League spoke on managing your money to prepare and the advantages of home owner ship. She said “Home ownership builds a sense of community, equity, stability, and tax benefits.”
According to Ms. Moore, rental payments can increase budgeting for a down payment. Saving money first can create a spending budget to buy houses. The Buffalo Urban League has different housing resources to offer through its Housing and Community Development Program such as the Home ownership with counseling on obtaining, maintaining, and retaining your home, rental counseling offering information on affordable rental units that are currently open. Utilizing the web site www.NYHousingSearch.gov and rental listings for both Erie and Niagara Counties.
Ms. Moore can be reached at the Buffalo Urban League, 15 Genesee Street Buffalo, NY 14203. 716-250-2400 or 716-250-2402 on Monday, Tuesday, and Thursday from 9am -5pm.
Finally, Building up the community through home owner ship is a way that generational wealth begin by making the resources available to do so.