My First Home

My First Home

Over 30 years ago since I embarked on my first home buying journey. I had terrible credit but I took action to improve my credit to achieve my dream to own a home. The process wasn’t easy and it took a year to raise my credit score high enough to qualify for the program. Next, I got pre-approved and found a great Realtor to show me and my wife homes in the Chicago area and we finally found the “ONE”.

The house was a charming Victorian and it needed some work but we loved this house so we put in an offer and it was accepted by the seller. Woo Hoo! I was excited, nervous, and scared at the same time. My next move was to secure the mortgage and I submitted my paperwork and waited for underwriting to reach a verdict.

I got the call and my loan was turned down because my credit score was too low. I just paid off the remaining balance on a student loan which was delinquent but the university didn’t report any payments I made on a payment plan for several years. Apparently, when I paid off this debt the university reported the balance as paid off as well as the late pays from my last payment several years earlier to the present date. My score dropped 40 points. Ouch!

I was sweating bullets and I thought I was going to lose the home but I got the university to report the payments on-time. My loan finally got approved and when I finally got to the closing table I was a very happy homeowner.

You must start the home buying process earlier to avoid headaches like the one I encounted when I bought my first home. Please complete the online application and we will get back to you to discuss your pre-approval and the next steps in the home buying process. Also, if you have any questions you can call us at 847-721-4865 or email