With a growing family and the need for more space, Breanna and her husband Trenton knew they needed to make a change. Their two children, ages four and one, were taking up more and more space in their 1,086 square foot rental. “We had to move for more space for our family to exist. When we looked into a larger rental, we realized that the cost per month was similar to a mortgage, but we didn’t really know how to go about looking for a house,” explained Breanna. As an employee of First Security Bank in Missoula, she was aware of the different down payment assistance programs and loan products for first-time homebuyers.
As Breanna and Trenton began exploring their options, they soon realized that the down payment needed for many homes in Missoula was well beyond what they could afford for the foreseeable future. “We were concerned about all the costs that come with owning a home too, like property taxes for example. There was so much we didn’t know and it felt very overwhelming,” Breanna stated.
When discussing her situation with colleagues, several people recommended they look into a new loan program called HomeStretch. Breanna didn’t want to get her hopes up, but after much encouragement, she reached out to NeighborWorks to learn more.
Breanna and Trenton met with a HUD-certified financial coach to review their household finances and see what was possible. Breanna was concerned about their credit scores and student loans, still very unsure of how they could possibly make homeownership happen. “Financial coaching helped me see how much I spend on so many small things…like coffee! We were also being overcharged for streaming services, so we made sure to take care of that and cut that cost down. We saw so many things we could cut back on to help put more money toward a mortgage payment,” Breanna explained.
After working with the financial coach to get their finances organized, they began talking about HomeStretch. “The fact that they offered so much down payment assistance was the big deciding factor. There’s no way we would be able to afford anything in the near future without that assistance. We looked at a few other options but they just didn’t fit with what we wanted and needed for our family,” said Breanna.
Throughout this process, they also completed a homebuyer education program with Homeword in Missoula. From that course came more confidence in their ability to manage a home and figure out how to keep it running. Breanna explained that one of the most impactful pieces of the homebuyer education class was running through many if/then scenarios. This education provided them with the comfort of knowing they are not alone and the realization that they are capable of being successful homeowners.
After much preparation, Breanna and Trenton began looking for their first home. “We were able to find a house that is two minutes from a great school that my kids will be attending when the time comes. The school is a within walking distance, and we are so excited to have them meet neighbor kids! It was hard moving with two kids, and we still cannot believe we pulled this off! It’s all so surreal,” Breanna explained.
Breanna and her family are still settling into their new home and are so grateful for the journey they endured to get here. Their kids have their own rooms, the dog has a backyard, and Breanna and Trenton are prepared for all that homeownership brings. “We were pushed by a lot of people to check out NeighborWorks and HomeStretch. We thought, ‘We can always say no, and if it doesn’t happen, that’s okay.’ But it did! Holy smokes, we did it!”
