Good Things Come to those who have patience
Stephanie, a single mom with five kids, had been living in an apartment for about four years when she happened to be at the Albuquerque Downtown Growers’ Market and stopped to chat with a Homewise representative. She had been thinking about buying a home of her own for a while, but was not sure how to move forward. She wanted more space for her family and a backyard where they could spend lots of time outdoors. “My kids and I always stayed in the apartment and never went outside,” she shared. She thought about how nice it would be to plant a real garden rather than just grow a few chile and tomato plants indoors in pots. Her father had also been encouraging her to buy a home rather than pay rent. She decided it was time to take action.
Stephanie called Homewise and started working with Sandy, a Home Purchase Advisor. “I had already paid off most of my debt,” she explained, “but I only qualified for a modest mortgage loan—not enough to purchase a home that would accommodate a family of six people.” Stephanie also received a substantial amount of downpayment assistance, which boosted her buying power, but it would still be a challenge to find the right home in such a tight market.
Stephanie and her Homewise Realtor® Rose looked at homes for many months without success, and then something wonderful and unexpected happened. One of Rose’s other clients, Victoria, was selling her home and told Rose that she wanted to sell it to someone who would put down roots, take care of the home, and not flip it for profit. Rose immediately told her about Stephanie, and Victoria asked to meet with her. Stephanie was thrilled to hear this, but she knew there was someone besides herself that would be meeting with Victoria, and so she did not want to get her hopes up too high. When they met, however, they had a great connection and Victoria decided to sell Stephanie her home at a price that was well below the market value to accommodate Stephanie’s budget. “We now have a new family motto,” said Stephanie, “Good things come to those who have patience!”
Stephanie closed on the home in December shortly before the holidays and decided to surprise her children with the news on Christmas day. She even put their gifts in the bedroom closets of the new home to make it all the more special. “They were so shocked when I told them this is our new house,” Stephanie smiled, “especially the younger ones. They all thought Santa really made their dreams come true.”
Since moving in, Stephanie has already had some plumbing and drywall work done and is busy painting all the rooms. “All the kids are involved,” she beamed, and one of her kids even created painted handprints on her bedroom wall to mark the space as her own. Stephanie was very grateful when Rose and Ambrose, another Homewise Realtor®, helped her put in new lighting and a new bathroom sink. “There’s still a lot to do, but this house has so much potential; we’re all excited to fix it up and create lots of happy memories.” Some of the things they are looking forward to include getting a dog, planting a large garden in the spacious, walled-in backyard, and converting a large shed into a hangout space for the kids.
Stephanie works for TriCore as a Medical Lab Technician. After she purchased her home, she was happy to find out that TriCore has partnered with Homewise to help their employees improve their financial well-being and quality of life through homeownership. Stephanie encourages anyone interested in buying a home—even if they are not financially ready—to get involved with the Homewise program. “Just start the process by talking with an advisor,” she says, “and Homewise will help you with all the rest.”
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