While buying a home continues to be competitive in California’s top housing markets, record-breaking housing prices are stabilizing, supply is improving, and competition is showing signs of easing up. This is the time to make your move, and Golden 1 Credit Union is here to help!

While there are many financial institutions to choose from, Golden 1 offers unique advantages to Californians looking to buy a home. Because they’re based here in California and serve only Californians, they understand local markets and have local resources to make the process as seamless and simple as possible. As a not-for-profit credit union, they offer lower rates on loans, low down payment options, and a variety of fixed and adjustable-rate options.

Through June 30, 2022[1], Golden 1 is making the dream of homeownership more affordable — whether purchasing or refinancing — with up to $2,000 savings on closing costs when financing with Golden 1 Home Loans[2]. That’s money that can be used to grow your savings, buy furniture, or fix up the backyard so it’s summer-ready! Since the promotion launched on February 1, 2022, Golden 1 has already helped nearly 275 members with over $500,000 in closing cost assistance!

You can save even more on closing costs with Golden 1’s exclusive Buyer Advantage Program. By using a Golden 1 Preferred Real Estate Agent, you can receive up to 25% off commission costs, which can be a significant savings.

Whether you’re ready to apply for a loan or just gathering information, Golden 1 Home Loan Advisors are here to answer questions, gather information, and discuss requirements. From pre-qualifications to the funding and closing of home purchases — including refinances, cash-out transactions, and fixed second mortgage and home equity lines of credit — Home Loan Advisors are dedicated to helping Golden 1 members and creating long-term relationships.

Become a Golden 1 member today and find the right loan for you by visiting Golden1homeloans.com or downloading the Golden 1 Home Loans app in the Apple or Google Play store. Our app simplifies your home loan experience with convenient and secure access to your application, digital documents, and your Home Loan Advisor.

Don’t delay! Home sales heat up during the summer months, so now is the best time for potential homebuyers to get ahead of the rising competition. Embark on your Golden 1 home loan journey with confidence, and with your experienced Home Loan Advisor by your side every step of the way! Whether buying your first home, relocating, or refinancing, there are money-saving opportunities available to make your dream a reality. With Golden 1 you have full support in your home buying journey … you belong here!

Golden 1 | Contributed

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“The State of the State will not improve until California acts to dramatically increase the supply of ownership housing to provide working Californians the stability and prosperity that homeownership provides.

“Working Californians today are excluded from the benefits of homeownership that middle-class Californians once took for granted. California’s overall homeownership rate has declined to just 55 percent. Among the state’s largest ethnic group, Latinos, it’s 44 percent, and only 37 percent of Black families own their home. This is unacceptable.

“Homeownership, according to the California Housing Finance Agency, is the most effective way that people build wealth and stabilize communities. However, the housing supply crisis has pushed the median home price sky high; on track to surpass $830,000 in 2022. This, in a state with a median household income of about $75,000. A stable and prosperous state cannot just have homes priced for software engineers and the already wealthy.

“The lack of homeownership opportunity is the primary reason the middle class and the businesses that employ them move out of state, creating the growing and troubling income and wealth inequality we see around us today.

“REALTORS®, as part of a bipartisan coalition, have offered common sense solutions to help address this crisis. California must prioritize and act to create homeownership opportunities for all of our diverse state. First, California should shift 30 percent of all federal housing funds coming to the state to homeownership funding — 20 percent to go to homeownership housing production and 10 percent to down payment assistance. And California’s 2022-23 state budget should allocate a minimum of $600 million from the state’s budget surplus, allocating $400 million to the production of owner-occupied, affordable housing for lower income Californians and $200 million to down payment assistance programs.

“A commitment to homeownership from our state’s leaders is essential to creating equity, economic stability, and opportunity. The 217,000 members of the CALIFORNIA ASSOCIATION OF REALTORS® stand ready to support policies to make real the promise of Homeownership for all Californians.”

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 217,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

California REALTORS | Contributed

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Washington, DC – During his speech on August 1st at the conclusion of the 72nd Annual NAREB Convention held in Atlantic City, NJ, Donnell T. Williams, newly installed as the 31st president of the National Association of Real Estate Brokers (NAREB) set a bold, yet targeted agenda to increase Black wealth through homeownership with a special focus on reaching the country’s millennials. NAREB’s national meeting convened just days after the U.S. Census Bureau released its second quarter 2019 homeownership rates which listed the Black homeownership rate at 40.6% the lowest it has been in more than 50 years. In comparison, the non-Hispanic White homeowner rate was 73.1%, representing more than a 30% gap.

“Bold, energetic and effective action must be taken to stop this unthinkable slippage in Black wealth. Homeownership and investment in real estate represent the tools Black Americans in general, and millennials, in particular, can use to build or rebuild their wealth,” said Donnell Williams, taking the helm of NAREB, the nation’s oldest minority professional real estate organization. “My plan to reverse the downward slide is to reach the 1.7 million mortgage-ready Black millennials who make over $100,000 annually, but have delayed or not considered homeownership as part of their wealth-building strategy,” Williams stated.

Several initiatives were outlined in Mr. Williams’ speech that speaks to the millennial demographic. One program, in particular, drew much applause from the audience when he said, “Our people need to know that you’re in violation if you drive a Land Rover and you pay rent to a landlord.” The initiative, www.housethenacar.com launches shortly and concentrates its financial focus on attracting millennials and “Gen-X-ers” to home buying or real estate investment opportunities to build sustainable wealth.

Mr. Williams emphasized that NAREB’s member Realtists must embolden themselves as well as their potential customers. He said, “We must Educate, Empower, and Mobilize ourselves as well as the Black American public. Wealth building through homeownership is indeed possible and we need to make that happen.” Mr. Williams is not new to the real estate profession.

First licensed as an agent in 1992 serving the Northern New Jersey area, he established his brokerage Destiny Realty in 2001 in Morristown, NJ with a satellite office in Newark, NJ, now one of the largest Black American, independently owned real estate brokerages in the state.

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