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That’s My House!

That’s My House!

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A-Simple-Guide-to-Buying-a-House-in-Kenya When we are young, many of us picture the kind of house we would like to have.      Some call it their “dream house”.

Girls might picture a Barbie house with the little white picket fence, pool in the backyard, and many rooms to decorate. Boys might have a different house in mind, maybe a castle with a moat, cannons in the yard, and animals roaming free on the property.

When we get older, reality shows itself and we find ourselves basing our decisions with a more practical approach. We may choose based on location, number of bedrooms, yard, basement, and most importantly the monthly payment amount.

When the time comes to purchase our dream home there are many factors we may not have contemplated.

A couple recently discovered how their credit score impacted their ability to purchase their first home. Expecting their first child, they began to look at homes in the area they wished to live. They found a beautiful 3 bedroom ranch with a fenced yard and den they hoped to turn into a playroom. The payment was within their price range, the home was in e
xcellent condition, and fit the needs they were looking for.

When they applied for a mortgage, they were denied by the financial institution and were shocked to discover they had a credit score below the minimum number in which to qualify for their home loan. The couple knew their credit score was important when applying and qualifying for a loan, but had no idea how crucial that “magic number” would be. They had been on time with their car and credit card payments, but discovered there were numerous miscellaneous items appearing on their credit report that were dragging their credit score down. They were advised to “increase their credit score” if they wished to qualify for a mortgage. But how?

They did some research online and found that this task to increase their credit score was not as simple as it sounded and doing it themselves may not get the results they needed. They discovered they would need the help of a company that specialized in credit repair and would get them the results they were looking for. Within a few months, their credit score increased and they were able to qualify for their mortgage.

What a relief!!! As they signed the final paperwork and were handed the keys to their first home, they were able to say with a smile on their face and tears in their eyes, “That’s my house!!!”.

Do you have a similar story? We would love for you to share it with us the comment section below.


Author: Kat Kirkwood, Debt Counselor @ DebtTech Financial Solutions


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