I’m so excited for some clients I helped buy their first home a couple of years ago. I thought I’d share their story – at least the Readers Digest version! 🙂
This couple attended a home buyers class that I was teaching back in 2014. They purchased their first home in Seattle in 2014 using a down payment assistance program we offer through the Washington State Housing Finance Commission.
Just a few years later, the home had enough equity that we were able to refinance the mortgage, including the down payment assistance, and reduce their monthly mortgage payment.
And where are they now? The couple has recently sold their home and will net around $100,000 after closing cost and real estate commissions. Not too shabby for buying a home five years ago without a down payment! Had they opted to try saving for to have larger down payment to avoid private mortgage insurance, they would probably still be renting and no where near the $100,000 they’re walking away with from selling their first home.
If you are currently renting, this could be your story too. You may not be able to buy in the exact neighborhood that you want for your first home… however it’s very possible that with the home equity and appreciation in home value you could gain, you’ll land closer to your “dream home”.
If you’re interested in buying your first or your next home located anywhere in Washington state – I am happy to help you with your mortgage!
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