The Process

How long is the journey to home ownership? A month, two months, a year…or longer?

The first time I met Josselyn and Miguel was at their closing after working with them for only two months. Their journey to homeownership was three years in the making with a few bumps along the way. They had to address credit repair, paying down debt, and saving for a downpayment.

I was connected to them by an agent partner of mine. His wife was friends with Josselyn and they were introduced at a dinner party. Ivan, my agent, was looking for a smooth process and knew he could count on me and the amazing First Heritage team. I had recently closed a loan in 16 days that had fallen apart with another lender.

Josselyn and Miguel were married last fall and were finally ready to make their first big purchase – a new home. As an experienced father of four, I make sure to practice patience, minimize the drama, and guide my clients all the way across the finish line. Like most first-time home buyers, Josselyn and Miguel had plenty of questions and concerns. Like most clients, they focused heavily on rates. As the oldest of 6 children, I walked alongside them like a big brother during their journey. There were times that I answered the same questions three and four days in a row. Patience takes practice!

I think that Josselyn and Miguel’s biggest struggle, as it is for most first-time home buyers, was getting past seeing their first home as their forever home. I told them that they needed to zoom out and look at the bigger picture. This home wouldn’t be their dream home, but the first step in their home journey and investment in their future.

What Other First-Time Home Buyers Should Know

Buying your first home is an emotional purchase. In most cases, it is the biggest purchase an individual or couple will make. As with most first-time home buyers, Jocelyn and Miguel’s purchase was very emotional given they had been working towards it for three years.

The advice that I gave them, and I think that all first-time home buyers should know, was:

• Zoom out and look forward 5 or more years – use the equity you build to help take care of future expenses.
• Don’t look at your first home as your forever home, your first home is a part of your pathway to financial freedom.
• Situate your credit finances early, making sure to document it all – in most circumstances, you will need to demonstrate 2-3 years of steady income from a job or business.

Closing Day

When we finally met in person at closing, Josselyn ran over and gave me a big hug. At that moment I knew I was doing what I was meant to do – help people navigate their pathway to financial freedom.

Stories like Josselyn and Miguel’s are the reason I became a loan officer. If you or anybody you know has questions about the home buying process or needs help with their finances, reach out to me today! 

This is not financial management advice. Please consult your financial advisor for financial management advice. The included content is intended for informational purposes only and should not be relied upon as professional advice. Consult with a finance professional for tax advice or a mortgage professional to address your mortgage questions or concerns. This is an advertisement. Prepared 4/3/2019.