Hard work, persistence and support can transform a dream into a reality — just ask Diana C., a single mother of three who made a special home purchase last August after years of wishing for, and working toward, homeownership.
In 2019, when Diana first began searching for a home in earnest, an initial credit review revealed her debt-to-income ratio was too high. She would need to pay off some debt to qualify for a mortgage. She worked hard on this, paying off debt as aggressively as she could, but the COVID-19 pandemic had other plans for her. Diana caught a severe case of the virus, requiring hospitalization and ultimately resulting in unmanageable medical bills. Medical collection accounts were showing on her credit report, undoing much of her hard work to build her credit. Despite these setbacks, Diana came to Self-Help Credit Union in Apopka, Florida, ready to roll up her sleeves. We developed an action plan for her, which she followed. Two years later, her credit had improved significantly, and she was ready to apply for a mortgage.
Using our Equity Boost program, Diana was able to reduce her loan interest rate by more than 2 points, which helped lower her mortgage payment. Mortgage loan officer, Geannina Hiraldo helped Diana access $12,500 of down payment assistance through our membership in the Federal Home Loan Bank of Atlanta, reducing Diana's closing costs to $3,000.
This is a story of great teamwork between Diana and our mortgage lending team, but the real magic happened in August 2024 when Diana finally closed on a home that had special significance for her: it was a home that had previously belonged to her parents, and a place where Diana had made many special memories. A happy homecoming indeed.