We’ve worked for several years to get our credit scores up, and we’re finally in the position to be able to purchase a house, and get out of renting for good! The home will be an energy-efficient manufactured home on a trailer park lot. And yes, we know, there are pros and cons to buying a traditional home versus a manufactured home. We’ve pored over this for several years, and the opportunity we’ve received is the best for our family’s needs.
Our kids will have their own rooms, we’ll have dedicated office space, and the home and all appliances come with a 5 year warranty. A traditional home of similar size and rooms would be more than double the price of this manufactured home! It’s an excellent deal with affordable monthly payments. We can’t let this slip through our fingers.
Due to the COVID-19 pandemic, our lender changed many of the rules and requirements we had prepared for. We saved for a 10% down payment, but due to the pandemic, the bank is currently requiring a 20% downpayment. They’ve applied everything we’re qualified for as first-time homebuyers, but unfortunately, we did not qualify for any kind of reduction on the down payment and closing costs. We were not able to find another lender with better options.
We’ve got nearly enough saved, and friends and family and our church have helped somewhat, but with the added banking & credit restrictions as well as everyone being strapped from the pandemic, we still need to come up with about $5,000 for the down payment & closing costs.
We both work full time and our budget for monthly bills are covered – this is just the final hurdle we need to leap by our closing date on the 16th of October. We know that with help and the kindness of strangers, we can meet this goal and have a wonderful home for our small family, as well as room to grow our entrepreneurial efforts.
Literally anything toward this will help, and we’re grateful for anything you may be able to send. If for some reason we are overfunded, those funds will be used for future monthly expenses such as food, electricity, etc.
Thank you so much for helping a small family get out of a too-small house that lets in cold air in the winter. We look forward to being warm this year! :D
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