Ariana had decided renting was a waste of money. “From a financial standpoint, I realized that I wanted to own a home instead of paying rent. Paying rent is like throwing money away. When you own a home you build equity,” she said.
This first-time homebuyer had already been approved for a loan, but the loan process raised a lot of questions. “Obviously, your lender understands the process and the terminology. They start asking you to sign paperwork and write checks for the appraisal fee and other things,” she said.
Like many first-time homebuyers, Ariana wanted to understand the homebuying process and face her fears. “Being a first-time homebuyer is super scary. I was worried and wondered what would happen if I couldn’t afford to pay my mortgage later. I also thought a lot of the loan terminology was confusing,” she said.
All of that changed when she enrolled in a virtual homebuyer education workshop through Neighborhood Housing Services Oklahoma. “The homebuyer education class was awesome! It took a lot of the fear out of the process because now I understood it and knew what was coming up next.”
Even though she was equipped with the knowledge of the homebuying process, the El Reno resident couldn’t find a home that she liked and that worked within her budget. “I had been looking for a couple of months. I really wanted to live in El Reno to be near my mom and sister. I was about to give up and start looking outside of El Reno, when I found the homes that Neighborhood Housing Services Oklahoma was building in El Reno. I called my realtor immediately and went to tour them,” Ariana said.
Now she’s enjoying being a first-time homeowner. “Our offer was accepted, and everything came together perfectly! Now I own a home and my monthly mortgage payment is about the same as what I was paying in rent. Plus, I have more square footage and a backyard,” she said.
As part of its mission and commitment to homeownership and affordable housing, Neighborhood Housing Services Oklahoma has built 7 high-quality, energy-efficient, affordable homes in El Reno over the past 3 years, with one more planned. Homebuyer education workshops are free. Sign up at: www.nhsokla.org/home-ownership/homebuyer-education.