Trending Topics

First-Time Buyer – First of Six Siblings to Buy – Chooses HomePath

June 10, 2016 | By

Single-mom Chezarea Withers and her 11-year-old daughter came home one day last February to learn their rental condo in Kennesaw, GA, was being sold in just a few days on the courthouse steps and they had to move out.

“I didn’t know what to do,” says Withers. “I’d paid my rent on time for six and a half years, and it was really frustrating. I could not deal with the instability of renting anymore,” she recalls. “I couldn’t let that happen to us again.”

Ready to Buy

Homeownership had been an “unspoken dream” for Withers, 33, a full-time medical staff recruiter. “I just didn’t know how to make it happen.”

She contacted family friend and real estate agent Alphonso Wyatt of PalmerHouse Properties in Atlanta and started to look for homes in her price range. She even made offers on a few, but none were accepted.

Then, they visited a HomePath®.com property in Atlanta that Withers “fell in love with.” But there was one drawback. She didn’t want to take the educational course that’s part of Fannie Mae’s HomePath Ready BuyerTM program. (Fannie Mae is also the publisher of The Home Story.)

Ready Buyer offers first-time buyers up to 3 percent toward their closing costs on a HomePath property. It requires a four-hour online course designed by training pros Framework that covers budgeting, the homebuying process, what to expect at the close, and the ongoing responsibilities of homeownership.

The Beauty of Learning…and Sharing

Although “impatient” about the requirement, Withers took the course and found, to her surprise, that she “enjoyed it immensely.”

“There were things I thought I understood but I didn’t—like the importance of the appraisal,” Withers said. “I would say ‘uh huh’ like I understood but I didn’t. The course made you pay attention to the transaction details.”

“That was beautiful,” she says.

From left to right: Alphonso Wyatt, HomePath buyer Chezarea Withers, and Marc Oppenheimer at the loan close.

From left to right: Alphonso Wyatt, Chezarea Withers, and Marc Oppenheimer at the loan close.

Withers involved her daughter in each step of the process so she would understand that homeownership “makes sense.” She’s also telling her five siblings about the benefits and process. “I am the first in our family to buy a home, and I think some of my siblings are ready and would benefit too,” she says.

“Ms. Withers is a great example of how the Ready Buyer program benefits qualified first-time buyers,” says Marc Oppenheimer, a 30-year market veteran and associate broker at Atlanta Communities in Dunwoody, GA, who represented Fannie Mae. “In this housing market I think HomePath is one of the best housing programs out there for first-time buyers,” he adds.

comments

COMMENTING POLICY

 

We appreciate and encourage lively discussions on our websites’ content. While we value openness and diverse points of view, all comments should be appropriate for people of all ages and backgrounds. We do not tolerate and will remove any comment that does not meet standards of decency and respect, including, but not limited to, posts that:

  • are indecent, hateful, obscene, defamatory, vulgar, threatening, libelous, profane, harassing, abusive, or otherwise inappropriate
  • contain terms that are offensive to any group based on gender, race, ethnicity, nationality, religion, or sexual orientation
  • promote or endorse a product, service, or vendor
  • are excessively repetitive, constitute “SPAM” or solicitation, or otherwise prevent a constructive dialogue for others
  • are factually erroneous or misleading
  • threaten the privacy rights of another person
  • infringe on intellectual property and proprietary rights of another, or the publication of which would violate the same
  • violate any laws or regulations

We reserve complete discretion to block or remove comments, or disable access privilege to users who do not comply with this policy. The fact that a comment is left on our website does not indicate Fannie Mae’s endorsement or support for the content of the comment.

Fannie Mae does not commit to reviewing all information and materials submitted by users of the website for consideration or publication by Fannie Mae (“User Generated Contents”). Personal information contained in User Generated Contents is subject to Fannie Mae’s Privacy Statement available here. Fannie Mae shall have otherwise no liability or obligation with respect to User Generated Contents and may freely copy, adapt, distribute, publish, or otherwise use User Generated Contents without any duty to account.

A Window Into Housing In America

Subscribe to our newsletter for each week's top stories. Enter your email address below to stay in the know.

Accessibility