Priced out…and for how long?

Megan got an email stating her FICO score is the highest it has ever been, and Dom’s score is even higher.

We tried the home buying route recently, we got preapproved and looked at some houses in James’ school district, but the truth is, and many folks in our age group can relate…we are priced out of the market right now. Homes we can afford need significant work or are too small for our family and even if we stretched it to the max amount we can spend, the monthly payment is high, and we can’t put ourselves in a situation where we regret the purchase in the future.

We recently read an article that many folks who bought within the last year are having buyer’s remorse about at least one aspect of their new home and some just simply overbid and are finding themselves in a precarious situation…although this isn’t the case with everyone, we are definitely happy for anyone who finds their dream home!

We are just stuck waiting awhile and hoping we can find something in our price range. Thanks Summit Credit Union for the support through this process! We are hoping that through this competition we are able to save and build up a high enough savings to have an even more substantial down payment for our dream home. It is a matter of patience and discipline for us.

We really appreciate that Summit wants to create more equitable opportunities for home ownership for folks who are truly considered middle class like us, and we are grateful to have this opportunity to build up our finances so we can obtain that goal.