Owning a home is a dream that, once realized, becomes the cornerstone of our lives. It’s where we create lasting memories, find solace and secure our family’s future.
Meet Kimberly and Marcel Dobine, a married couple from Detroit with two young children, who have turned their cherished dream into a beautiful reality with the help of Rocket Mortgage®, the ultimate one-stop resource for all your homeowner needs. Their journey has been a remarkable transformation, from hopeful prospective buyers to proud homeowners. Being a trusted partner throughout their journey, Rocket Mortgage helped make this process more seamless for the Dobine’s.
In The Beginning, There Were HBCUs
Kimberly and Marcel ironically met while working in the mortgage industry. Both are outgoing and successful in their own right and are graduates of HBCUs, with Kimberly being a graduate of Alabama A&M University and Marcel a graduate of Florida A&M. When they met after college, they instantly knew that they were meant for each other. Several years, two kids and one dream home later, their beautiful dream became a beautiful reality.
Kimberly is not only a wife and mother of two children, ages five and one, she’s an entrepreneur, author and the visionary behind the Posh and Popular brand. Marcel is a President’s Club Mortgage Banker, who is currently helping other people turn their homeownership dreams into reality.
Their story is not just about buying a dream home; it’s about the preparation and the vision that led them to create the life they’ve always wanted for their family. Their story is about their path to homeownership and what sets their story apart is the strategic approach they took to homeownership. Read more to discover how they worked step-by-step with Rocket Mortgage to purchase their home.
Step 1: Preparing Finances
Even though Kim and Marcel had knowledge of the mortgage industry and helping others, it felt different when it came to purchasing their own home.
When it came to preparing their finances, they first determined a budget and obtained a preapproval, making sure they could afford the home they desired with just one of their incomes.
While preparing your finances, some steps to take are to:
- Evaluate your financial situation; include income, savings and debt-to-income ratio.
- Use Rocket Mortgage’s calculator to estimate how much home you can afford.
Step 2: Get Preapproved
Rocket has the best resources to explore mortgage options. Options here may include:
- Apply for preapproval with Rocket Mortgage to strengthen your offer.
- Gather necessary documents, such as pay stubs, bank statements and tax returns.
- Benefit from Rocket Mortgage’s fast and convenient online application process.
Step 3: Exploring Mortgage Options
When it came to exploring their mortgage options, Kim attributed their experience with working with Rocket Mortgage and the hands-on approach received.
Step 4: Down Payment Assistance
The Dobines were strategic as it pertained to ensuring they had an adequate down payment saved up. They saved for almost a year before they even reached out to a real estate agent to start their process.
“We made sure that we were prepared in terms of saving money ahead of time. We knew we would need to have at least 5 – 10% of whatever our budget was. We thought that would be enough to cover things like our down payment, our closing costs and any other inspections and the like that we would incur,” said Kim.
Step 5: House Hunting
House hunting was an adventure for the Dobines. Their house-hunting journey took a surprising twist when they stumbled upon the perfect home with the help of Kim’s amazing real estate agent friend, Lindsey Roland.
“I was simply looking online when I found our dream home. I recall saying to Lindsay, ‘I think this house is really great!’ Later that week, Lindsay and I met for lunch. A couple days later, she called and asked me if I wanted to go see it. And that’s how it happened. It was literally just … I would say magical, right? It was just ordained for us to find the home that we did,” Kim stated.
Practical steps include:
- Consider your must-haves and preferences to narrow down your options.
- Use Rocket Mortgage’s sister company, Rocket Homes, to browse available properties in your local area
- Consider selecting a Rocket Homes Partner Agent
Step 6: The Offer And Negotiation
Kim mentioned that working through the offer and negotiation process was very competitive for them.
They had a conversation about their maximum offer with their real estate agent and the agent went in like a shark. As a result, their offer was accepted.
Some practical steps to consider during the offer and negotiations are to:
- Identify the home of your dreams.
- Work with your real estate agent to craft a competitive offer.
- Negotiate terms, including the purchase price, closing date and contingencies.
Step 8: The Home Inspection
For the Dobines, the home inspection was as easy as pie. The recommended steps include:
- Schedule a thorough home inspection to identify any potential issues.
- Discuss inspection findings with your real estate agent and negotiate repairs if needed.
- Ensure that you’re comfortable with the inspection results before moving forward.
Step 9: Finalizing The Mortgage
Kim mentioned that the closer she and her husband got to finalizing their mortgage, the more excited they became.
Hitting a home run with this step almost ensures your closing will go smoothly. When this step is reached, be sure to
- Provide any additional documentation requested by Rocket Mortgage.
- Lock your interest rate and review the loan terms.
- Prepare for the closing process, including signing documents and making a down payment.
Step 10: Closing And Moving In
When discussing the closing process, Kim unlocked a forever memory: “Getting those keys and standing in front of our new home to take that photo felt spectacular! That will forever be a core memory that we’ll have for the rest of our lives. It was a huge accomplishment because we did it together. And I think that’s the most beautiful thing, because it was something momentous that we accomplished, not only as a married couple, but as a family.”
Once you get to the closing, the steps involve:
- Attend the closing meeting with your real estate agent, lender and seller.
- Review and sign the necessary paperwork.
- Celebrate your homeownership journey with your new keys in hand!
Kim and Marcel’s journey with Rocket Mortgage showcased how easy and convenient the homebuying process was, especially when leveraging the resources and products available on Rocket Mortgage’s platform.
For more information, visit RocketMortgage.com.
