Renter Buys First Home, Investing in Community
“I cleared up my credit and, after that; we had no trouble finding a lender. I realized I really don’t want to get things on credit; it’s better to save.”
Jeanette Esparza has five children. For years, finding rental homes with enough space was a challenge.
Jeanette’s first step towards becoming a home owner was to participate in financial literacy training offered by the Luna County Housing Authority. Jeannette started saving through an IDA account in 2007.
Within a year she had saved enough, with the matching funds for which she was eligible through her IDA, for a down payment on a house. Her parents also agreed to match whatever she saved, dollar for dollar.
Jeannette bought her first home in 2008.
How Prosperity Works Made a Difference: Prosperity Works provides the ‘match’ money required of all IDA holders like Jeannette.
Location: Deming, NM