Newlyweds Bobbi McSwine and Tyran Price didn’t think they would qualify for a home loan because of student loans and lack of a down payment. Both traveled over an hour each way from their home in Shelbyville, Kentucky to Lexington for work, and they dreamed of saving both money and time by living closer to their jobs. Knowing it would make a big difference in their quality of life but unsure if they could make the dream a reality, the couple connected with Fahe’s JustChoice Lending (JCL), hoping for help to create a feasible path to homeownership.
“Our real estate agent recommended a few lenders, but once we talked to JustChoice Lending, we knew it was right for us. Instead of only trying to sell themselves, they really want to work for you and help you become a homeowner. We liked how personalized they made the process.” said Tyran.
Bobbi agrees. She said, “The team was so warm and welcoming and it put us at ease. We felt like they were on our side from day one.”
Their first move was to improve Bobbi’s credit score by establishing a payment plan for her student loans. She had been making interest-only payments, and her loan balance wasn’t decreasing, prolonging repayment and negatively affecting her credit. Guiding her through this process helped stabilize her credit score.
The couple tackled all their debt in the same way. By making consistent payments on overall debt that addressed both interest and principal, they reduced their debt more effectively, and saw another positive impact on their credit.
Bobbi and Tyran also held the misconception – one shared by many – that a large down payment is a must. JCL provides options designed for first-time homebuyers or those with limited savings who don’t have the funds to make a large initial investment. By addressing their concerns and walking them through alternatives, a plan tailored to their specific financial situation helped them confidently move forward.
Tyran said, “Gathering the paperwork made it real for me. That part scares people off – maybe not having the credit history or not being able to get all the necessary information. We got validation all the way through that our documents looked good and things were moving fast.”
Thanks to the guidance of JCL, the couple qualified for a $230,000 home. JCL offered the couple the Fahe Community Second Loan – a 5.5% 80/20 conventional loan based on market income and area of need. This loan also eliminates the need for mortgage insurance, saving the borrower an additional monthly cost.
“Getting that pre-approval was what made me feel like it was really happening. When we got pre-approved for the house that we wanted, that’s when I knew this was attainable,” said Bobbi.
Because of their hard work and commitment, Bobbi and Tyran successfully closed on their perfect first home in Lexington in November 2024, and their new home has already had a positive impact on their lives.
“I was commuting an hour each way every day. I have two jobs and coach at a high school, so I was in Lexington from about 6 A.M. to 8 P.M. every weekday, plus here on weekends to coach. Now that my commute is about ten minutes, I have more time to spend with my wife, and more time to be personal with people at work and in the community,” explained Tyran.
Added Bobbi, “I was really selective about after-work events because I was always factoring in the drive. Even us just cooking dinner together was hard to plan. But now we feel free to do things that we love.”
Bobbi concluded, “We were given some great options and they were thoroughly explained. The staff was so supportive. We feel so grateful.”
