New-home owners: Success story

A "lifetime gift" is what Chena and Eddie Baity said they acquired during their time at the KB Homebuyers Club. Upon completion of the program, the couple were pre-approved for financing on a $300,000 home and acquired the financial skills that would improve their way of life.

Through the club, potential home buyers are given free financial assistance including credit reports, a review of their finances, budget design and, if needed, credit counseling. They can also learn about all of the builder's neighborhoods in Southern Nevada, including floor plans and prices.

The Baitys moved to Las Vegas from the Chicago area three years ago, and in moving and changing jobs, they found themselves in financial trouble.

"I was discouraged and didn't feel good about the situation," Chena Baity said. "It's so easy to get in over your head financially."

An acquaintance referred the couple to the KB Homebuyers Club.

"We treated it like a job," Baity said. "We took it upon ourselves to make sure our credit was accurate, writing letters to receive positive credit recommendations and checking with credit repositories regularly to ensure changes were recorded. We were persistent and got the results we were looking for. Now we are right where we want to be."

For two years, the couple saved money, kept a record of all their payments to creditors, and worked with them to improve their credit rating.

"Credit is a powerful thing, and you need it to get the things you want out of life," she said. "I learned that I have a choice. I can take the initiative to improve my credit."

Phyllis DeVaull manages the club, which is located within the KB Home Studio at 7370 S. Industrial Road, Suite 409, just south of Warm Springs Road. She declared the Baitys efforts a success story.

"In addition to saving substantially for funds to close and establishing debt repayment strategies, the Baitys improved their FICO score by 200 points," DeVaull said.

"The Homebuyer's Club is a great way for first-time buyers to learn about the home-buying process. We have found that participants appreciate the straightforward communication and upfront planning strategies we offer in order to help them reach the dream of homeownership."

Baity said they also learned about mortgages.

"We are educated enough to be able to choose the right kind of loan for us, and not just trust someone else to make the decision for us," Baity said. "We've turned lenders away because they weren't offering us the right loan. We know this loan is going to be a major part of our lives, and we want to get it right."

The Baitys selected a home at the builder's Shadow Springs neighborhood, which is located at Interstate 215 and Losee Road in North Las Vegas.

"Now is a great time to buy because the market has stabilized and interest rates are still low," Baity said. "Plus, by waiting, we are now able to buy a bigger home with more options.

"Through the Homebuyers Club, we have accomplished a life-long dream of becoming homeowners and have gained financial skills that we will help us for the rest of our lives. It doesn't get any better than that."

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