Rebuilding His Life with a Welcome Home Loan
When Aaron White was looking for a new place to live in the Upper Valley, he quickly discovered the upside-down math of the current housing market.
“I couldn’t afford to rent,” he said.
When Aaron White was looking for a new place to live in the Upper Valley, he quickly discovered the upside-down math of the current housing market.
“I couldn’t afford to rent,” he said.
Aaron had already been a homeowner more than once, including living in a manufactured home. He knew it could be an affordable option.
However, his credit was damaged by his divorce, and he thought he’d need at least a year to get it back on track.
Aaron needed to stay close to his 15-year-old daughter and his job. But in North Haverill, one-bedroom apartments rent for $1,400 or more.
So, he ended up renting one room in a house that didn’t have enough space for visits from his daughter — or his small woodworking business.
“When I was renting, she didn’t want to come over,” Aaron said.
He wasn’t hopeful that the situation would change anytime soon.
Luckily, Aaron had a friend looking out for him.
Julie Marsh Harris, a REALTOR and listing agent with All Access Real Estate, found a manufactured home for sale on nearly an acre that was only a mile-and-a-half down the road from Aaron’s daughter’s mom. The property also had enough space for Aaron to restart his woodworking business.
The two-bedroom house was a fixer-upper that needed a concrete slab and anchors, just to start with.
“Most lenders won’t finance that,” Julie said.
But she knew one that might.
“The Community Loan Fund understands that the little things aren’t detrimental to the big picture,” she said.
First, she called our lending team to make sure financing was possible. Then, she shared the news with Aaron that she’d found him the perfect home.
His response? “It’s a waste of time.”
“I really didn’t think it was possible,” Aaron remembers thinking. “My credit had taken a beating.”
Julie didn’t give up because she’d worked with us before.
“I know the New Hampshire Community Loan Fund helps people who aren’t in the best spot to get a conventional loan,” she told him. “Why don’t we try it?”
As Aaron moved through the process of applying for our Welcome Home Loan without much confidence, Julie kept him focused on his goal.
“I just kept telling him, ‘Let’s push through it,’” she remembered.
Finally, he reached closing day and became a homeowner.
His mortgage? With taxes and insurance, he pays $1,255 a month — less than the average rent these days in North Haverill.
According to the Community Loan Fund’s lending data, manufactured-home owners save an average of $300 a month when homeownership (including taxes and insurance) is compared to renting in New Hampshire.
After moving in, Aaron’s first priority was having his daughter choose a bedroom set before she spent the night in her new room.
“The first night with me, she snacked out and slept right through the night,” he said. “She left her room a mess, which is awesome... I largely did this for her.”
The next goal was to move his woodworking business from space he was renting in town to his new home.
During a recent visit this spring, Aaron was found hard at work using an excavator to carve a pad for his soon-to-be-built shed that will house woodworking tools.
He’s grateful for Julie and the Community Loan Fund as he rebuilds his life.
“Because of the Community Loan Fund, she saw a path to making it happen,” he said. “If it wasn’t for Julie, I wouldn’t be sitting here right now. I’m really rebuilding my life."
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