Wednesday, November 23, 2011

Home Owners at 22 & 23! Our Story!



That's right; its official JP and I are home owners. We're sitting in our home in awe and disbelief that this finally happened. It was a long 6+ months but it was all worth it!

JP and I moved a year and a half ago due to JP's job transfer. We had about two weeks to find a place to live and we went up one weekend and saw the few places we could that fit into our budget and that would allow a dog... It was VERY slim pickings... We decided on a little unit near the beach because the owner was putting in new laminate floors and he gutted the kitchen and it was decent... We moved right in and all the problems began to pile up. Not to mention when all our stuff was in the 600 sq ft unit was uncomfortably tiny... First off our neighbors were an interesting bunch to say the least. We met a woman who had been living in there for a long time and we immediately knew she would be a piece of work to live by... We will call her Dill... lol. If you knew her name would would think that is funny. We shortly found out we were living in a Section 8 complex... We lived next door to a convicted sex offender, a meth addict, heroin addicts across the way, domestic violence in the other unit and crazy single moms screaming and cussing out their very small children... We couldn't believe it but we signed a year lease. (The sex offender moved out two months after we moved in thank the Lord...) But the drug addicts just kept coming...

We held our heads up high and decided to just push through until our lease was up and then we would start our search for a new place to rent. I always kept an eye out for an idea in our price range but quickly realized we would always be living in dumpy places for our price range. Its amazing how LITTLE $1200 a month will get you if you have a dog! When I was pregnant with Hope about 4 months along JP came in the house from work one day and said "Babe, Im going to buy us a place." I was like okay? We dont have any savings, we dont have enough time to build a savings either for a down payment. At least not for a few years? Since I was pregnant and exhausted I told him if he really wanted to do this to go for it but I wont be much help because my brain was on baby overload. Well I owe all the credit to JP. He did the research on a home loan called a USDA loan. It is a rural development loan that is targeted to stimulate the economy of rural towns with small populations. So not every town will qualify.

So JP and I qualified for a home loan and we decided to go for a short sale to get the most out of it. We knew we wanted a condo being that its a good investment for a first time buyer because when you grow out of it you can easily use it as an income property and rent it out down the line. We immediately knew the place had to be ours. We didnt have to look any further this was it for us and the process began. Because of the home loan we used we didnt have to come up with any down payment, closing costs... NOTHING. It is a 100% financing loan! All we needed was to put down an escrow deposit which was as much as one months rent. So literally we bought our house for less than $2,000... Too good to be true right? Nope its true. We closed and signed the final docs and we are getting our full escrow deposit back even! Our mortgage is LESS than our monthly rent and our place is TWICE its size and like 50+ years newer than the place we were renting... We just feel so blessed... Marriage, new baby and new house... The American DREAM!!!! Thank you Lord we owe it all to God. I have prayed and prayed and prayed for it all and it happened. SOOO happy!!! Thanks everyone for your prayers and for routing for us during this process! We will update with lots of pictures of our new home when its all set up :-D

JP is the model of someone who when they want something they go for it all the way. He never gave up! I am so blessed to have a man who fights so hard for his family and for his dreams! What motivated him was when someone told him at work, "Hey dude, you know you could be owning a home for the amount of rent you are giving to someone else every month right?" That pissed him off and pushed him right into this decision. If you have any questions about the home loan we used we can give you the info of our broker. Carpinteria qualifies by the way friends ;)!

No comments:

Post a Comment