How I Saved to Buy a House on My Own (Plus Homebuying Programs Worth Checking)

Two jobs, two years, one deadline, and the resources I want you to look up before you start.

For two years, my best friend called me every single morning so I'd make it to work by 9.

Because the night before, I didn't get off my second job until 2 a.m.

After my divorce, I moved into an apartment. The day I signed that lease, I already knew I wasn't renting again. I'd had my own home before, and I wanted my own again. So I gave myself a deadline: my son graduates high school, and I'm moved out by the end of that summer.

I made it. Here's exactly how, and the programs I'd want you to know about if you're where I was.

What my two years actually looked like

I worked my IT job all day. Then customer service from 6 p.m. to 2 a.m., Sunday through Thursday. Saturday was the only full day that was mine. I took naps on my lunch break. My best friend became my alarm clock, because I needed every minute of sleep I could get.

(She still calls me every morning at 9. Some things you keep.)

How I saved

1. I picked a date, not a someday

My son's graduation was my finish line. A real date turned "I want a house" into math I could work toward.

2. I used a second income to do three things at once

With one job, I would have had to choose: pay off debt, or fix my credit, or save. With two, I could work on all three at the same time. Nothing had to wait its turn.

3. I rewarded myself at every $5,000

Two years is a long time to work for something you can't see yet. So I made a deal with myself: every time I saved another $5,000, I bought myself a Pandora bracelet. I needed something I could touch on the days the house felt far away. Every one of those bracelets is a receipt.

4. I said no on purpose

I missed family parties. Dinner dates with friends. I said no because I was building, and it still stung every time. If you set a goal this big, decide ahead of time what you're willing to miss, so every no is a choice and not a surprise.

5. I talked to a lender before I felt ready

I needed to know my actual number instead of guessing at it. I also asked what programs I might qualify for instead of assuming I didn't. More on those below.

6. I brought my son to my closing

He'd lived through two years of me working like crazy, and I wanted him to see the payoff. I also wanted him to see the process, every page and every signature, because he'll be doing this himself soon. I'd rather he learn it sitting next to me than figure it out alone.

Homebuying programs worth checking before you start

I'm not a financial advisor, and programs change, so treat this as a starting point and confirm what you qualify for with a lender or a housing counselor. A lot of people assume help isn't for them without ever looking.

You might count as a "first-time" buyer even if you've owned before. HUD generally treats anyone who hasn't owned a home in the last three years as a first-time homebuyer. If you owned a home before a divorce, ask whether you qualify.

• Your state's housing finance agency. Every state has one, and many offer down payment help, closing cost help, and lower-rate loans. Find yours: ncsha.org/housing-help
• HUD's local homebuying programs by state. Pick your state to see programs from your state, city, or local organizations: hud.gov/buying/localbuying
• A free or low-cost housing counselor. HUD-approved counselors give independent advice on buying a home and on credit, often at little or no cost. Search by ZIP code: consumerfinance.gov/find-a-housing-counselor, or call (800) 569-4287.
• FHA loans. Insured by the government, with down payments as low as 3.5% and easier credit qualifying: hud.gov/buying/loans
• Fannie Mae HomeReady. A conventional loan with as little as 3% down for low- to moderate-income buyers, open to first-time and repeat buyers. Ask your lender about it by name: fanniemae.com/singlefamily/homeready

Until next time.