A Leap of Faith Built on Generational Strength

For Amoy Barnes, homeownership is more than just property. It is the cornerstone of family, community and financial stability.

An immigrant from Jamaica, Barnes grew up in Staten Island with a clear plan of action: work hard and, someday, own a home. But relocating to New Jersey a few years ago to live with her then-fiancé required a huge leap of faith: leaving and selling the very first house her mother had worked tirelessly to buy. That’s why purchasing a house in her new hometown was so deeply personal – it was her chance to create financial stability for her own children, just as her mother did for her.

Barnes and Matthew Smalls were renting in South Orange as they solidified their plans to get married. They weren’t sure when they could make their dream of homeownership a reality, but they knew they wanted to do whatever they could to stay in South Orange or Maplewood. Unfortunately, the surging and competitive real estate market was making it difficult and almost caused them to put their search on hold indefinitely.

But everything changed when Smalls found a flyer for a 100-year-old Tudor-style house in South Orange’s Tuxedo Park neighborhood. They took a tour of the home and knew right away they had to try to make it work. Once their offer was accepted, they looked at each other and said, “How are we going to pay for this?” 

To get to the closing table, they needed to pool every available resource. That is when they applied for the Wealth Gap Equalizer Loan (WGEL) through the South Orange/Maplewood Community Coalition on Race. WGEL is an interest-free loan of up to $15,000 to help with closing costs, down payments, legal fees, or in Barnes’ case, repairs to make the home move-in ready. It is designed to help Black and non-white Hispanic first-time homebuyers purchase homes in South Orange and Maplewood.

They completed the WGEL application process and received the funding the day they closed. According to Barnes, it was relatively easy because she already had the required information ready for the mortgage company. Because older homes come with their own unique challenges, the loan provided immediate relief by covering urgent plumbing and window repair costs.

Now settled, Barnes uses her experience to encourage friends to move to the community, highlighting its small-town feel, beautiful homes, easy train access, and specifically, the WGEL.

“We can’t go there, we can’t move there, we can’t afford it; that’s literally what they would say,” said Barnes. “It’s just an opportunity to say, ‘No, you can. Here’s something you can use to help with the down payment and all these other things.’”

For Barnes and Smalls, their house is now a foundation for their family's future. By securing their own place in the community they love, they have successfully brought that long-held dream full circle, creating a stable home they can one day pass down to their own daughter.

“There is nothing like owning a home and living in a neighborhood,” said Barnes.

Interested in learning more about the Wealth Gap Equalizer Loan?

WGEL provides interest-free loans of up to $15,000 to eligible Black and non-White Hispanic first-time homebuyers purchasing homes in South Orange or Maplewood. Learn more and apply at ChooseSOMA.com.