Moe was a sole
proprietor in Champaign. He was a very
successful landscaper and did quite well for
himself. He lived with his brother in an
apartment for 3 years and
felt it was time for him to move out on his
own and purchase his first house.
Moe went to multiple banks in the area and
was repeatedly turned down, despite the
fact that he made $60,000 per year.
He was getting approval for traditional
loans due to the fact that he never
established any credit since he turned 18.
He mostly paid his bills in cash and
never obtained a credit card as that is what
his grandfather always told him to do.
He had previously viewed and fell in love
with a two bedroom, one bath house located
on Church Street. He felt like it wasn't
meant to be before he turned to us for his
Champaign Living solution, we were able to put
him in the house of his dreams.
The house was purchased by Schwaps and then
resold to Moe. The sale price for the
house was $123,000. Moe was financed by
Schwaps and after the $10,000 down-payment,
Moe's loan for $113,000, 30 years, at 8.5%
resulted in a mortgage payment of $868.87
per month.
The purchase of the dream house was well
within Moe's financial means. Moe was very
happy with his service through Schwaps as he
did not need to establish credit for
himself prior to purchasing a house.
* The
story above is just one example of the many
ways Schwaps may serve your Real Estate
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