A couple from Washington, D.C., plans to spend more than $1 million to buy a home with a new financing plan after they lost a lease at their former apartment complex.
Sara Burdick and David Cramer said they have a history of having trouble finding new financing for their rental property, and they’re planning to use the $1.5 million they raised to buy it with a mortgage, credit card, and a line of credit.
The couple, who have two kids together, said they’re excited to have the help of a new company that will help them make the payments and move closer to their dreams of opening a bar and restaurant.
The firm they chose to use to do the financing is called Bluebird Financial.
The company, which specializes in residential mortgage refinancing, is owned by the Cramers.
The couple said they chose Bluebird because it offers the most comprehensive and flexible financing package available to the typical homeowner.
“We are in the midst of a housing crisis that is making life tough for families and individuals in our community,” Sara Burdicks said in a statement.
“This is our way of saying thanks for your continued support and understanding.”
The couple said the new financing is an important step in helping them make it through a tough time.
They plan to open their new home, which is a two-bedroom, three-bathroom apartment, in June, 2018.
They said the couple plans to use part of the money to pay down the mortgage on their home.
The rest will go toward paying for renovations to the building.
“The fact that we’re able to pay off the mortgage with the same amount of money we raised shows that our plan works,” Sara Cramer Burdics said.
“When you make a purchase of a home, you have to take a chance,” David Cramersaid.
“You have to make sure that the money you spend goes into making the house a better place.”
For more information, contact Sara Boulanger at [email protected] or call (202) 646-9222.
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