Meet Layanna, a teacher and single mom. Through her commitment to her goal and the support of her real estate agent, loan officer, and community, now she's also a brand-new homeowner.
"Owning my home means pure happiness because being able to provide more stability and a better sense of security to my family means the world to me," Layanna said. "Moving forward at the right time truly became a prayer answered and a blessing openly received."
Read the whole story of how Layanna's dream of buying a home for herself — and, more importantly, for her two sons — became reality.
If you're hoping to become a homeowner, too, you might benefit from the steps that made the difference for Layanna.
- Know that you can get a mortgage with a down payment as low as 3%. For example, Freddie Mac's Home Possible®.
- Do your research.
- Understand what's involved in buying and owning a home.
- Sharpen your financial management skills. Layanna took the CreditSmart® course taught in–person, earning the homebuyer education certificate required for certain low down payment mortgages, including Home Possible. CreditSmart also is available on–line; however, that version does not result in certification.
- Take advantage of programs that make it faster and easier to save for a down payment.
- Make the most of the array of resources available to eligible homebuyers, including state and local homebuyer–assistance programs. Learn more about down payments and down payment assistance.
- Don't assume that having student debt will prevent you from qualifying for a mortgage.
- Work with a team of knowledgeable, supportive, housing professionals.
Go to My Home by Freddie Mac® for information on the homebuying process, from end to end.
Have a comment or question about this post? Email us to let us know what's on your mind.