Belleville woman finds herself in newly purchased home just in time for holidays

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BELLEVILLE, Ill. – In September, a single mother of three was seeking a new beginning after starting a nursing job in St. Louis. But finding a home and having the funds to pay the closing costs seemed out of reach for Alicia Davis.

“It’s among the largest hurdles in terms of purchasing a home in the first-time homebuyer age,” said Ed Vogt, director of mortgage banking for the Central Bank of St. Louis.

But a mortgage loan by the St. Louis bank provided her with $7,500 towards closing costs and her family a home for the holidays.

“Yeah, we had to do a budget, which was really good,” said homeowner Alicia Davis. “We’d see how much of a house payment you can afford and then think about the down payment and closing costs and all that and how much your monthly expenditures were going to be going out to help keep that in check and well-rounded.”

In the eight years Central Bank of St. Louis has had its Home Start and Subsidy programs, they’ve invested $2 million into the community by helping 900 families purchase homes.

“When you’re helping individuals, who would not have the opportunity to purchase a home if it weren’t for this assistance, it is extremely satisfying,” Vogt said.

“When you have that down payment and closing costs that’s cash you have to have and that can be a hindrance so it was very helpful,” Davis said. “This wouldn’t have been possible without it.”

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