Realizing the Dream: Jasmine’s Story

Jasmine and her son, Bannan, outside their home.

Jasmine and her son, Bannan, outside their home.

Before February 2013, Jasmine had moved nine times in nine years. As she bounced from apartment to apartment throughout the Manchester area after graduating from school and beginning her career, moving just came with the territory of renting. However, when she became a mom and was settled working full-time in the nonprofit sector, she wanted more stability.

Jasmine first knew she wanted to become a homeowner when she graduated high school, so her goal this year was simple: “I just don’t want to be a renter,” she said.  It was then that Jasmine began to learn about the opportunities and resources available to help individuals and families purchase a home.

To begin her research Jasmine went to the local office for the U.S. Department of Housing and Urban Development to learn about homeownership.  As she educated herself on the home buying process one question loomed large: “How can someone with not a lot of income buy a house?”  It was then that she heard about New Hampshire Housing’s mortgage programs, affordable interest rates and downpayment assistance program designed to help homebuyers purchase a home.

“I have always stayed on top of my credit,” she wrote, “but working in the non-profit sector, especially when enrolled in college, never left a lot of income for me to be a good candidate to a lender.”

Through NeighborWorks Southern New Hampshire in Manchester she was able to attend a free group homebuyer education class and one-on-one homeownership counseling.  She learned what a lender looks for when qualifying a borrower for a loan; how to find a Realtor; and about the importance of a qualified home inspector.  She also learned about New Hampshire Housing’s Cash Assistance Program, which provides up to 3% cash to help with downpayment and closing costs.

“I knew I wouldn’t have downpayment money and closing money at once,” she said.  New Hampshire Housing provided the assistance that made homeownership attainable and affordable.

In February 2013, she closed on a condo with a New Hampshire Housing Home Flex loan.  The boost of downpayment assistance meant she still had some cash reserves left after closing, and her mortgage and condo fees are less than the rent she paid previously.

It also has meant stability, a place for her three-year old son, Bannan, to grow up, and a community to call home.

“It’s mine,” she said. “It feels good that it’s mine, and it feels good that I don’t have to move.”

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