A $250k Mortgage on a $95k Salary? Here’s How One 30-Year-Old Did It

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Buying a home during the pandemic seems like a strange idea. One 30-year-old first time home buyer in Georgia, however, is showing us why purchasing a home even in the midst of uncertain times may be a smart move. CNBC followed the journey of Krystal Anyang-Kusi as she “did things differently.” 

Anyang-Kusi admits that she didn’t just do things differently, she did them “backwards.” When she wasn’t approved for home-buying assistance programs due to her income, she decided to start looking for houses and determining her price range before reaching out to lenders to see what they could offer her.

Then, due to the pandemic, she had to close on the house virtually. But for Anyang-Kusi, who lived with her parents before moving into her new townhouse, it was a fair price to pay for the independence she was seeking. 

“It’s definitely given me a sense of being more of an adult, changed my mindset on a lot of things and made me more responsible, especially when it comes to finances,” she told CNBC. “My word for the year is fearless: I feel like if I can do this, I can do so many other things that I thought I couldn’t do.”

Though not everyone will agree with Anyang-Kusi’s decision to take on more debt while in the midst of a pandemic — she closed on her home just as lockdowns were beginning in March — the new home owner couldn’t be happier or prouder.

Yes, committing to paying off more than $250,000 while managing both other debts and the financial uncertainty of the pandemic may raise eyebrows, but Anyang-Kusi says that she made the right decision for herself in the long run. 

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“The thing that gave me solace was that I knew a home would be more of a long-term investment.” she told CNBC. “I just trusted that this time is right for me.”

Find out how other younger Americans like Krystal Anyang-Kusiare are spending their money.

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