Lupin Project

Helping African-Americans Build Generational Wealth through Homeownership

Excerpt from how this mission started. CC&Rs from a suburb of San Diego, dated 1946.

“That neither of said lots nor any portion thereof or interest therein shall ever be leased, sold, devised, conveyed to or inherited or be otherwise acquired by or become the property of any person other than of the Caucasian Race.”

Qualifications

  • Available for first-time homebuyers only

  • The purchased home must be a primary residence (not an investment)

  • The home must be located in San Diego County

  • The Buyer must be native to San Diego (proof of birth certificate must be provided)

  • The buyer’s parents must be of African descent (One or both parents’ birth certificates must be provided)

  • 100% of the selling agent’s commission must be used as a credit toward the purchase of a home. (no cash will be given directly to the Buyer)

  • The Buyer must be 18 years old

FAQs

  • How much money can I expect to be credited?

    • That all depends on a few things. It mostly depends on the purchase price of the home and the commission being offered by the seller. For example, the median home price in San Diego is $750,000. If the seller offers the buyer’s agent a 2.5% commission, that equals $18,750. Deduct brokerage fees, which typically is 7% + $250, and a transaction coordinator of $500, a homebuyer can expect a credit of $16,687.50. Again, this is just an example, as agent’s commissions typically range from 1%-3% of the sales price.

  • Do I have to pay the money back?

    • No.

  • Do I have to pay the money back if I decide to sell the home?

    • No.

  • Do I have to list my home with you when or if I decide to sell the home?

    • No.

  • What’s in it for you?

    • Yes, this is still a business. Our only hope is that when or if you decide to sell your home, you’ll use us to list the home. If not, then no big deal.

  • Can I participate in the reduced commission program if I’m selling my home?

    • No. This program is only for first-time homebuyers.