In 2016, Shelley Stevens and her husband, James, were starting fresh. After moving to Phoenix, Arizona and living together for the first time, they decided they were going to need some more space to start their own household and family together.. "At the time we were renting a home in North Phoenix. We didn't have any like specific plans, but we wanted to be ready when we found the right thing," she told Business Insider.
It took them a year to meet their goal of $24,000 saved for their home purchase. Along with a $20,000 bonus Stevens received in April after her company was sold, they had enough money to buy a house by July 2017. One day, they noticed an open house at the property they had been watching, so they decided to drop in.
"We put in an offer at $300,000 and met in the middle at $307,500," she said. They ended up not using all $40,000 worth of their down payment savings, as they put down about 10%. "We didn't spend every penny on the down payment; we knew we were going to want to do a few upgrades to the house," she said.After buying their house and having their first baby, Stevens was laid off from her job about six months after her company was sold in April 2017.
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That's great for them..congrats. Those looking for a mortgage should know this. If you have ever disputed a credit report entry and then disagreed with the company's determination. A note that you disagreed goes on your credit report and will stop you from getting a mortgage.
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