Sandra Lussier

Third time is a charm

By Sandra Lussier

Krystal and Justin Davidson were determined to move their family out of an apartment and into their own home. It took knowledge, hard work, discipline, and faith.

One couple's journey from "not yet" to "now"

The story is one we see a lot in Welcome Home Loans, especially as rents become increasingly higher and home ownership seems increasingly out of reach for many.

Meet the Davidsons: Justin and Krystal wanted to get themselves and their children out of their apartment and into their own home.

Justin was recovering from a difficult time in his life and his finances had suffered. In Krystal he found a partner who made him feel hopeful, and the couple was ready to make their shared homeownership dream a reality.

Take one: The Davidsons come to us, hoping to buy a new home to place in a resident-owned community (ROC). We had to tell them they didn’t have the savings (5% for closing costs and an additional two months of reserves) they needed. Krystal also had past-due student loans and needed to prove she could pay her bills on time. We told Justin and Krystal both things had to be resolved before we could approve the loan.


From left, Ron Thompson, Heather Ralphs, and Sandra Lussier of our Welcome Home Loans team, with new homeowners Krystal and Justin Davidson at their loan closing.

Take two: Justin tries again, on his own this time. He chooses a less-expensive home to be placed in a different ROC. Again, our answer was “Not yet.” His income and savings alone weren’t enough to make homeownership viable.

Krystal responds by taking charge of her student loans. She puts them on a payment plan, raising her credit score more than 50 points. Justin talks with his employer and gets an advance on a bonus he’d usually receive later in the year. Now their finances and savings look solid: They have 5% of the home’s purchase price and two months of mortgage payments in savings.

Third time: Justin and Krystal try again, and this time we approve their loan. They work with New Style Homes to choose finishes and trim, cabinets, and colors. Not only are they realizing the dream of home ownership, they are able to mold that dream to their personalities, their style, and their family’s needs. In one more piece of good news, the home appraises at a higher value than the amount they’ll borrow. They have instant equity.

Justin and Krystal are the perfect example of how an imperfect situation can have a perfect ending. It took some knowledge, hard work, discipline, and faith not only in each other but also in the process. They didn’t give up, they worked hand in hand with us, and on Halloween night they’ll hand out candy to the children in their cooperative from the doorway of their brand-new home.

The Davidson are why we do what we do. Seeing them at closing, tapping their pens, sharing a kiss, and saying “We did it!” is a thrill that’s hard to match.

Sandra Lussier is a Loan Origination Assistant on our Welcome Home Loans team.

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