Victoria’s journey to homeownership began in October 2022, marked by a fierce determination to provide a stable, nurturing environment for her three teenagers. As a single mother working two jobs and furthering her education, she faced the dual challenge of managing a tight budget while aspiring to transition from renting to owning a home. With $1,800 monthly rent payments, Victoria knew that homeownership could offer her family not just a sense of security but also an opportunity to build generational wealth.

However, the road ahead was fraught with challenges. Financial strains had taken their toll; Victoria had depleted her savings for her children’s school needs, navigated job changes, and purchased a vehicle in cash to ensure reliable transportation for her family. Entering the program with a FICO score of 484 and burdened with over $1,000 in collections, without any banking relationships or credit history, the path to qualifying for a mortgage seemed daunting.

This is where Operation HOPE stepped in, with financial wellbeing coach Kristi McCain offering personalized guidance and support. Together, they devised a comprehensive plan to address Victoria’s financial challenges. Despite initial setbacks, their perseverance paid off. By focusing on improving her credit score, establishing banking relationships, and creating a savings plan, Victoria began to see tangible progress.

Victoria’s commitment to the plan yielded remarkable results. Her credit score improved significantly, from 484 to 599 by April, and continued to climb, reaching 639 by August. By November, she achieved a score of 655, a milestone that brought her closer to her dream of homeownership. Alongside her improving credit, Victoria also built a savings cushion of over $3,000, further strengthening her financial stability.

Operation HOPE’s program introduced Victoria to various homeownership assistance programs, including grants and down payment assistance tailored for lower-income and single-parent households. With her sights set on a 700 credit score, Victoria is now well-positioned to explore her options for purchasing a home in 2024, equipped with the knowledge and resources to navigate the home-buying process.

Victoria’s story is a testament to the transformative power of dedicated support and financial education. Through her journey with Operation HOPE, she has not only moved closer to achieving her dream of homeownership but also set a foundation for financial stability that will benefit her family for generations to come.

As Victoria continues on her path, her story stands as a source of inspiration and a reminder of the impact that targeted financial guidance and perseverance can have on achieving one’s goals. At Operation HOPE, we are proud to support Victoria and many others like her, as they work towards financial independence and the dream of owning a home.