Thank you for taking the time to read this. You are awesome for just being here!
I am a 34-year-old woman who just got out of student loan debt in October 2021. I had been paying since 2009 and never once missed a payment. Like most people, I worked very hard and sacrificed a lot to climb my way out of that debt and I can't express how proud I feel!
I am now on to the next goal in my life which I feel was delayed by having such hefty debt. My new goal is home ownership. I have been saving as much as I can on my own. I leave myself very little to spend every paycheck so that I can put the majority of my money in savings.
I recently found a house in Hainesville, IL. that would be perfect for me, my fiancé, and my furry baby (well, she's not that furry, she's a Boston Terrier). We would be able to start a new life here, consider starting a family, and my Boston would finally get to run free in the comforts of her own yard (they have so much energy!)
I have been pre-approved for the home loan and was told I would need to bring $16,000 to closing. We are hoping our offer will be accepted and close in mid-March.
I am now facing a dilemma. I could take government down payment assistance from IHDA which comes with a higher interest rate and higher monthly payment for a one time forgivable $6,000 loan- Or I could bring my own money to the table and have a much lower rate and monthly payment. I prefer the latter.
The house we found needs repairs. Tenants were living in it and completely trashed it (there was dog poop in one of the closets- at least I hope that was from a dog). The seller will not put any money into it. The home will be sold AS IS. We will need to redo all flooring and paint every single room. I am a little scared about what the inspection will reveal.
Being gifted $6,000 would be a huge help to us. We would then need to bring $10,000 of our own money to closing which will leave us with a little left over to make our repairs and still allow us to save money each month for other things that will need to be done.
I have never used a crowdfunding platform before. I have always been very independent and lived within or below my means. I drive an old car, live in a small one-bedroom apartment, and really don't buy myself much so that I can save my money.
Student debt has crippled me in many ways but that's over now. I am ready to finally put my money towards other things. I would appreciate anything! Literally anything you can spare!
Thank you so much for being here.