Homeownership in America has currently increased more than any year following the Great Recession. According to a CNN report, homeownership grew by 65.5% in 2020, representing a 1.3% increase from 2019, the largest annual increase on record.
Nonetheless, Black homeownership remains lower than it was a decade ago. According to CNN, it is nearly 30 percent behind the White homeownership rate of 72.1%. These disparities reflect the challenges Black people face in acquiring a home.
However, Black entrepreneurs, Christopher Watson and Aaron Steede, have intervened to make homeownership easy for blacks. They founded Credit Bros with a mission to help the underserved attain financial freedom since they met in 2018.
They first met on Facebook after exchanging comments over the fiscal deficit in the Black community. The conversation came on the back of a worrying report that the U.S. market is “splitting along racial lines,” with Black homeownership coming down to the lowest level since 1970.
After monitoring and analyzing people’s comments and complaints, the two concluded that the lack of homeownership among the African-American community was due to the lack of education about credit. To help reverse the trend, they founded Credit Bros, a company that seeks to eliminate financial illiteracy by assisting individuals who need financial and credit guidance.
Credit Bros is emerging as a leader in the financial and credit services industry. Through their firm, they teach people of color how to maintain a good credit score and become homeowners.
The duo has so far helped over 300 families attain homeownership by fixing their credit reports through factual disputing. Their footprint is not only limited to the USA but worldwide. The co-founders are also responsible for assisting over 200 people to get homes. They have a time-tested program that helps clients to get loans and balance their credit risk management.
They also provide budgeting advice and strategic ways of maintaining and sustaining credit as leverage to build wealth. Watson and steede complement this through speaking engagements to enlighten future homeowners and teach them what they have not been taught over the years.
Meanwhile, the duo is celebrating five years of helping homeowners in the black community.