27 Oct Single Mother of Three Receives Full Range of CDCU Services
Georgina Trujillo’s apartment lease had only a week left before ending when she drove past CDCU’s office on 1700 South. She had been looking into buying a home, but just wasn’t finding anything she could afford in the rising market—and she really didn’t want to sign another year-long rental lease. As a single mother of three, finding stable housing with more space for her kids to grow was essential. Feeling desperate, she stopped and came in to see if we could help her better understand what she needed to do to buy a home she could afford.
She found out about CDCU’s Intro to Home Buying course, and came back the next day to attend. The class helped her understand that she could qualify for more home if she lowered her other debts. She refinanced her car to reduce her payment and made a plan to pay off her credit card within 2 months. She also moved in with her mom, feeling hopeful that she may actually be able to buy sooner than later.
The situation at her mom’s was not good—they had no privacy, and they were constantly exposed to second-hand smoke during their stay; . Georgina was very anxious to see how long it might take to get her own place. She took Framework (the online version of home buyer education) and then met with a homeownership advisor. She learned about different mortgage products that could help increase her affordability, including CDCU’s HomeFit mortgage. This option appeared the most attractive, since it would not require monthly payments on mortgage insurance, and would allow her to borrow $150,000 with a lower payment than an FHA loan would.
Georgina also learned about some homes CDCU was selling and the special programs associated with them. She attended an open house for a CDCU Idea House the next day, and it was love at first sight. The home was fully renovated to be healthy, energy efficient, and to conserve water. While she was apprehensive about the asking price of $165,000, her advisor encouraged her to make an offer on the home any way and request assistance from Salt Lake County. There was no guarantee they would approve it, but it was worth a shot.
Georgina ended up having her offer accepted; she was approved for a silent note from Salt Lake County for the $15,000 difference in affordability, and she also received some down payment assistance to help with closing costs. With what she saved by staying at her mother’s house for three months, she had enough to cover her 1% required investment and the additional costs of buying the home and moving.
When Georgina stopped by the CDCU office to pick up her keys, Diane Hartz Warsoff, our CEO, met her at the door. Georgina started to cry as she was handed the keys to her new home and proceeded to hug everyone in the office and thank them for helping her make what seemed impossible a reality. Helping Georgina had proven to be a successful collaborative effort among the different departments within CDCU, as she had utilized nearly all of the services we offer.
“You have three choices in life,” says Georgina. “You can give up, give in, or give it all you’ve got… working with CDCU has been a great experience as they help families make their dream of being a homeowner come true.”