My Homeownership Journey

Generated with Leonardo AI — The Blunt Mom

My Homeownership Journey

For some, the house-buying process can be very complicated, especially if there are derogatory credit issues, down payment issues, or lack of income issues.

As my family and I embark on our house-buying journey, I will be documenting each step in the process in hopes that it may help others in similar situations.

Here’s a summary of our situation:

1. We currently rent in a small, south-western Ontario town, 30–40 minutes from the nearest city.
2. Our athletic teenager attends high school in the city, so they get bussed back and forth and aren’t able to join any athletic activities unless we are able to make the drive to pick them up. With the cost of gas and wear and tear on our very old vehicles (2006 & 2007 Trailblazers), we’re just not able to sustain this, so they miss out. Our hope is to move to the city before September 2024 for their grade 10 year.
3. We were discharged from a Consumer Proposal on December 2020 and have been trying to repair/re-establish our credit since.
4. My husband has been at his current workplace for 3 years, making $43,000, and I will be with my employer 3 years in June and earn $49,000 annually.
5. My husband’s credit score is below 630 (621) due to a CIBC…