Finance in terms of rates and plans has somewhat become a commodity in the residential mortgage arena. We therefore have keyed in on service and simplicity in establishing trusted relationships with financial institutions.

If you choose to use our construction company and one of our stock floor plans, then you can expect your home to be appraised higher than what we will build it for. This is because we have done our homework. We have met with the appraisers and have designed a very cost effective home. When appraisals work, so does finance. It’s that simple. Below are some typical questions we get and the typical answers you can expect from our preferred financial institutions.

Q: What are my obligations if I fill out a loan application?

A: There are no obligations when you apply.

Q: What kind of costs can I expect before my loan closing?

A: Although there is no application fee, if your loan application meets your needs and has been determined to meet our minimum loan qualification guidelines we will require you to pay a loan commitment fee and for your appraisal prior to closing.

Q: What will my rate be if I have bad credit?

A: Rates depend on many factors. Credit is one of those factors. Some other factors include the amount of equity in the property, the level of income documentation provided and the debt level you have as compared to income. Until we understand the structure of your specific loan and the loan is approved, the interest rate can only be estimated. Our goal is to provide you with the lowest interest rate possible so we can earn the business of you and your friends in the future.

Q: What down payment is required if I cannot document my income?

A: If two of your three credit scores are as low as 600 you may qualify for 90% financing. Even if self employed for one day you may still qualify for 90% financing with credit scores as low as 620. Credit scoring requirements can change often for these types of loans and may depend on other factors.

Q: How do I qualify for a low down payment if I have bad credit?

A: With two of three credit sores as low as 560 you may still qualify for financing on a conventional mortgage. If your scores are lower than 560 then you may still qualify for financing.