The Little Buyer That Could
We met on a warm day in September. She had contacted me through Zillow with interest in a property. I asked her to meet me at the office that day and we began to discuss the home buying process. We immediately stepped into the office of one of my lender partners to discuss her pre-approval.
Roadblock 1: There were a couple of things that needed to be removed from her credit. No problem, she would have the money in two weeks with her monthly bonus. Paid and now the wait for the credit billing cycle to rescore.
Roadblock 2: Two weeks later, credit score had gone up, but not quite far enough. There was one of the bureaus that had not yet rescored. So another two weeks before we could try again.
Roadblock 3: Finally, 45 days after our first meeting and 80 points higher on her credit score, we were ready to buy. Except with a lower budget than originally discussed. Because of the new job with commission, some of her higher income could not be used in her qualification.
So, there it was. The dream home, just out of reach at $10,000 higher than the approval letter. So we look at other homes in the price range, but the buyer kept coming back to the dream home. Wondering if the sellers would take less. Hoping there was a chance that they would.
So we made an offer for as high as she could afford....and wrote the sellers a letter too. And amazingly, the sellers accepted! Dream home acquired subject to home inspections and appraisal. She thought that we would never get there, but at the closing table, tears of joy at receiving the keys to her first home.
This story is not unique. There are many first time home buyers that get discouraged by an initial meeting with a lender. There are lenders that truly love to work with first time buyers and it shows. I would love to introduce you to them and get to working on buying your first home! Call me today to make your dream come true!
Keep smiling~
Karen
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