Amanda Lowe and Rudette Smith Sr. moved into their Sandys cottage in September.

Amanda works as a manager for Cellular One and Rudette works for Works and Engineering.

Amanda says they bought their house without "one red cent" in savings, something she never expected to be able to do until she went to a seminar by Rodney Smith and MP Dale Butler.

They regularly run seminars on how to buy your own house without having to make a down-payment.

Although she was inspired by the seminar, Amanda says that once she got home she just put the information aside and forgot about it. Then, out of the blue, her landlord told her that she would have to move out.

Instead of looking for a new place to rent, she decided to look into the options that Mr. Smith and Mr. Butler had suggested.

She started out by doing some research and spoke to Bermuda Housing Corporation, Bank of Butterfield and Bank of Bermuda. All three offered some good initial advice, including a recommendation from the Bank of Butterfield lending officer that they look for a house instead of buying a plot of land to build on.

However it turned out that the Bermuda Housing Corporation was their best chance for a 95 percent mortgage.

BHC is able to act as a "lender of last resort" for Bermudians who are first time buyers.

Their mortgage section asked Amanda and Rudette for full details of their income and expenses and required them to give copies of all their bills so that they could come up with a budget and tell the couple the range of property prices they could consider.

BHC also assessed the couple's compatibility in terms of goals and finances.

After three meetings and two months of applications, they were pre-approved by BHC. That very same day they went to see a property. Amanda says that she had a few misgivings when she looked around the house, but as soon as she saw the yard with its wonderful views she was completely sold on it.

For the deposit, Bank of Butterfield were able to make them a $35,000 five year loan for $35,000. This was a chattel mortgage and involved using their possessions as collateral, but Amanda says that she did not feel uncomfortable about it. All along, she has put her trust in a higher power, and everything has seemed to go smoothly: "Without the Lord's help, none of this would have happened."

Asked if she has found the financial commitment of being a home owner a burden, Amanda said: "The mortgage is more than our rent, but it's worth it."

She said she used to object to paying large amounts of rent, which just felt like money down the drain, but now she feels her mortgage payments are money well spent.

To keep on top of their personal finances, Amanda and Rudette make sure they balance their cheque book every month. As soon as the salaries come in, the mortgage payments go out, then they pay their major bills before they think about any other purchases. "It's all about budgeting" she says.

Her advice to other people trying to get their foot on the property ladder is to be persistent. "Don't be afraid. Don't let anyone tell you that it's impossible. Keep trying different avenues."