Road To Homeownership

Cynitra F. Oliver, MBA 

Financial Wellness Associate

​Hey family!!!! Time to talk home ownership. That’s right-home ownership is a conversation that must be placed on the “roundtable”. Whenever my family get together, we like to have round tables. Roundtables are a safe place for good and informative conversations surrounded by love. So let’s have a “round-table”, shall we? 

Owning your own home has many benefits. For me and my family, it meant having a place where my husband and I could raise our daughter. It also gave me a sense of financial stability and buying power. I no longer wanted to rent apartments. When I realized that there was no return on the money, I was giving the landlord each month, I decided to make a change.
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I started with reviewing my credit score and report; neither was very favorable to obtain the type of home I desired. I contacted the creditors that I had acquired a debt with and made payment arrangements to pay them off. I know what you’re saying, “Girl, that will take forever, I don’t have the time nor the patience”! And I say you must make the time! I started with the least amount of debt first, then moved on to the greatest. I set a goal for myself to pay off fifty percent of the debt within six months.

With persistence and discipline, I was able to accomplish my goal. As I was paying off my debt, I constantly monitored my credit report to ensure the information from each creditor was accurately reporting. If there are items on your credit report that you feel are not accurate, reach out to the creditors to discuss the matter.

Once I was able to tackle paying off the debt, I saw an increase in my credit score. Family, when applying for any loan, keep in mind creditors review how you handle debt. The rule of thumb is to keep your debt-to-income ratio at or below thirty percent. That also applies when you are looking for homes; don’t spend more than thirty percent of your gross monthly income on a mortgage. You don’t want to end up back home with your parents.

Family, owning your own home is an accomplishment that anyone can achieve. With discipline and a few “roundtable” conversations, you will be able to have the home that you desire.
 
Peace and Love, Cynitra

Cynitra F. Oliver, MBA

A wife of 10yrs to the love of my life, and proud mother to an 18yr old daughter. A proud member of Zeta Phi Beta Sorority, Inc., in which I have dedicated my time and financial expertise to the Financial Secretary role for my local chapter. As well as my current role as the chapter Parliamentarian. I have worked in the financial industry for over 17 years and have held several roles; from Licensed Banker to Branch Manager to Women’s Business Advocate. My goal/aspiration is to become financially free from all debt and create wealth for my family and all those I encounter; leaving behind a legacy for my daughter to continue. I love spending time with close friends and family.  ​