Sharronda Priestly has big plans and hopes for herself and her family. A single mother of two, she first came to Wayne Metro feeling ready to purchase her first home, but soon realized that her path to homeownership was going to take a lot of work, time, and help from trained professionals who care.
The very first obstacle was Sharronda’s debt to income ratio which was higher than a mortgage lender would accept. She began working with a Wayne Metro financial coach and paying down her debt and credit cards while sticking to her goal to save, save, save! She enrolled in Wayne Metro’s IDA Matched Savings Program, putting in $1,000 of her own money, and receiving $4,000 in matched funding in just seven months!
Sharronda would experience other setbacks along the way, from a car accident that stalled her savings, to a cut in hours at work that decreased her monthly income. Yet, she powered through and after three years was ready to begin homeownership counseling and education classes.
With Wayne Metro’s guidance, Sharronda qualified for homebuyer assistance through the Detroit LIFT program which offers first time homebuyers up to $15,000 toward their down payment. She was approved for a mortgage with Huntington Bank and chose to purchase a home through the Detroit Land Bank Authority.
Sharronda tells us, “I am a happy homeowner, and proud of where I live and that my children have a home to grow up in.” She is proud of where she is today, and how hard she has worked and in her ability to provide a safe home for her two daughters (and their friends) to play and grow.
Today Sharronda is still working with Wayne Metro to save. She is saving for small home projects, a family vacation, and maintaining a rainy day fund for emergencies.
“I am empowered to be a great mother, to be the best homeowner and to be debt free.”
– Sharronda Priestly, Detroit Resident
Hear Sharronda’s story in her own words