Family Finds New Way of Life with PrivateMI
Ann Madera and her family found new jobs, a new home and a better life in Florida, thanks in part to private mortgage insurance (PrivateMI).
They moved to Kissimmee, Florida from Puerto Rico earlier this year. Ann and her husband Hector Martinez now live in their four bedroom, two bathroom house with their sons, 5-year-old Hector and 2-year-old Lorenzo, and Ann's mother Aida. For the very first time, they own their home.
Before the family moved, they were able to save money, which they used to pay for the move and living expenses until they found jobs in Florida. Although they had a large nest egg, Ann and Hector did not have enough to make the 20 percent down payment traditionally required by lenders. They had to look for other ways to finance their mortgage and first learned about PrivateMI from their real estate agent.
"Private mortgage insurance was the fastest and easiest way to obtain financing for my home," Ann said. "If it wasn't for PrivateMI, we would not have been able to buy the house."
Back in Puerto Rico, Ann and Hector lived in Aida's house along with their two small sons. When Ann was single, living with her mother was fine, but as her family grew, space became very important. The house had only three bedrooms and one bathroom, so living there was tight.
The old neighborhood in Puerto Rico was nice, but the family worried about increasing crime. Also, the local school was not very good, so they paid for their son to attend private school twenty minutes away on a route with heavy traffic.
The family loves their new community in Florida. Ann was very impressed when people they didn’t even know helped the family get settled. They also are enjoying a very active social life. Back in Puerto Rico they had spent most of their free time inside their home because there were few places to go for family entertainment.
The new neighborhood is very convenient for the family with many stores and restaurants nearby. Best of all, their son Hector really likes his school. Ann is very pleased that her son is learning English and getting a good education.
Ann and Hector's quality of life has improved in many ways with their new home. They no longer have to work long hours and overtime, and their jobs are more fulfilling. Ann works as a secretary for the Osceola County Children's Home and Hector, who was happy to escape the "rat race" as a civil engineer in Puerto Rico, is now working as a truck driver and learning new skills as a handyman for their home.
Additionally, Ann's commute now takes only seven minutes, whereas in Puerto Rico it took her nearly three times longer. She says that she runs into little traffic and has a very relaxing ride to and from work. "Besides getting a new home, we obtained a new way of life," said Ann.
Ann really likes the stability and security that comes with owning her own home. She said, “I feel that I have roots, that I have something to leave my children in the future and besides that, it’s an investment.”
Their new home is much more spacious and has an “enormous” yard (almost an acre), according to Ann. Her favorite part of the new house is the family room and the kitchen. The home also has a screen house in the back, a wood-burning stove that works, and an office that is enjoyed by the whole family.
"I didn’t like it when I first saw it on paper," Ann said. "But now, I am totally in love with it. What I find totally wonderful is that I have two bathrooms! I never had two bathrooms before."
Ann and Hector look forward to making their home their own. Their top priority is putting up a fence so that their children can play safely in the yard. They would also like to add a carport, build a front porch and move some walls to create a new entrance for the house. They plan to paint the house and repair the roof as well.