Perhaps someday to be incorporated into a personal memior, for now just ramblings about my life growing up and living in Roanoke, VA.

I grew up officially in Roanoke County. That’s where I went to school from elementary (Penn Forest) through high school (Cave Spring), and it’s where I lived (in an apartment sharing rent with my brother) after finishing college at Radford University.

But, some months after I started working in a job that would lead to my career, I started to think more and more about a permanent residence. It was also around this time that my brother established a serious relationship, and was looking to move out so him and his girlfriend could both get their own place.

So, I would be stuck “throwing money down the drain” by continuing to rent an apartment when I could build credit and equity with home ownership.

Now, this is all taking place back in 2005 which was probably somewhere around the peak of the housing boom. Of course back then I had no idea about the bubble bursting or any of that. And to be honest, I wasn’t sure if I was even in a situation where I would be approved for a mortgage.

I was making a relatively modest income and only my salary would be used in loan calculations, there was no spouse or other co-borrower. I also had no money to put down. But, as I was to find out none of that would matter.

I originally showed interest in a house in the Garden City area. I even met a realtor and toured the house and had decided that I was prepared to make an offer. However, a couple hours after leaving I received a call from the realtor letting me know that another offer had already been placed on the house and it was no longer available.

For the next several days I didn’t come across a house that I particularly liked (or really one that I felt comfortable about being about to afford.) So, I mentioned something to the realtor about other potential options and he suggested that I was pre-approved for some 40% more than the range I had been looking for. If I opened up the search to include these higher priced homes I would be sure to find something. I even remember being assured that not to worry because the house will be worth so much more money in 5+ years anyways.

I look back now and think to myself at how easy a couple or family may have bought into the idea of owning their first house or dream home. The entire process seemed so easy for me and if everyone else seemed to think I was capable of paying it back then I suppose I could be able to.

Still, I knew what I was able to afford and the last thing I wanted to end up was “house poor” with such a large payment. Then, and still today, I already have a student loan payment as well as having to pay back Visa and MasterCard for those college years when I lived on plastic money.

So, not too long afterwards I visited another house in the the Southwest part of the City, in the Virginia Heights neighborhood. It very much had a “first time home” look to it. And the house was nearly the same price as the house in Garden City, but was this one was a much older house with a small yard on a corner lot. I was comfortable with the price and what the payments would be and before I knew it I had signed on the dotted line and received the keys.

As I said before I put no money down and thus financed the entire price, as well as took out a second mortgage to pay for the various closing costs and other fees. Both of the loans are standard and fixed 30-year notes with interest rates of 5% on each. The loan process was easy, too easy, and I’m not even sure I would’ve approved myself for the loan. But everything worked out as it always seems to do.

This past summer marked my third year as a homeowner in Roanoke City. And I’m not sure if I’ll still be in the same house 27 years from now when the mortgage is paid, but I certainly hope to still be somewhere in the vicinity.