Overcoming obstacles

The key to home ownership

It's a long way from the Navajo Nation to Phoenix, but nicer weather and better job opportunities convinced Michelle to make the move six years ago. She found both. She also found something she didn't even know she was looking for.

Michelle became a homeowner for the first time on December 14th. "I should have done it sooner," she says. "I wasted six years paying rent when I could have been building equity. I know that now."

NHS Phoenix Loan Processor Cindy Espinoza says that Michelle did everything exactly right. "She is my ideal client," says Cindy. "I wish everyone was as conscientious as Michelle."

When Michelle first started thinking about buying, she talked to a housing counselor to get advice on improving her credit. "It was bad," says Michelle of her credit history back then. "It took a few years to get that in order." Then she attended Homebuyer Education class at NHS Phoenix, learning all about the home buying process.

"I was very intimidated by the whole process at first," Michelle says, "but the NHS staff reassured me. They made me feel comfortable. They answered all my questions, and I had a lot of them!"

After working with NHS Phoenix Housing Counselor Rachel Regalado and HomeOwnership Manager Patti Johnson, Michelle knew that income was her second obstacle. She also knew that she would need at least $1,000 toward a down payment, so she put her newly acquired budgeting skills to use and started putting money aside so she'd be ready.

The final key for Michelle was a new NHS Phoenix grant program in partnership with the Navajo Housing Authority. As an enrolled member of the Navajo Nation buying a house off reservation, Michelle received a $10,000 grant to help with down payment and closing costs. The down payment assistance helped to lower the amount of her NHS Phoenix mortgage loan, making her house payments manageable.

"I'm happy to have my own home, to have a place for my children," says Michelle. "I don't have to worry about a landlord anymore, or to wait to have things fixed around the house. I will do it."

Michelle has learned a lot, but she's not done yet. She intends to take additional classes at NHS Phoenix, continuing to improve her money management skills. She also plans to take home maintenance classes so she will know how to fix things when they do go wrong. And that's exactly what makes Michelle "ideal."

From the First Quarter 2007 issue of DoorWays.