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Homeowner signs thepurchase agreementStep 2:Homeowner appliesfor a mortgageStep 3:Homeowner receivesan accepted and signedpurchase agreementStep 4:Mortgage Companyissues homeowner acommitment letterStep 5:Homeowner selectsinterior materialsand finishesStep 6:Your sales consultantreleases your paperworkto constructionStep 7:Construction dept.surveys lot &obtains permitsStep 8:Foundationis pouredStep 9:Framing begins onyour new homeStep 10:Plumbing, Electrical &Heating/Cooling Systemsare "roughed in"Step 11:Insulation and energywork completedStep 12:DrywallinstalledStep 13:Homeowner contactsmortgage lenderStep 14:Interior trim,flooring and cabinetsare installedStep 15:Homeowner receivesclosing & walk-throughdatesStep 16:Carpetis installedStep 17:Construction dept.does a qualitycontrol inspectionStep 18:Homeowner's firstnew home orientationStep 19:Homeowner arrangesfor certified fundsStep 20:The day of closing!Step 21:Warranty follow-upStep 1Homeowner signs the purchaseagreementCongratulations! Signing the purchase agreement isthe first step to purchasing your new home. Youand your sales consultant will carefully review howyour new home will be built with regards to frontelevation, first and second floor layouts, and all structuralitems. At this time, if your exterior color package hasnot already been specified by our design team, you will beselecting your exterior color package from one of our manypre-coordinated choices.Step 2Homeowner applies for a mortgageNow is the time to meet with the lender personally, in order to apply fora loan.Your lender will help in determining what loan program isbest for you. In preparation for your meeting you will needto gather the following documents and bring them withyou to your mortgage application appointment:a. Copies of most recent one month's pay stubs.b. Copies of your last two year's W2s.c. Copies of your three most recent month's bankstatements.d. List of all monthly debts(acct #, credit card balances, car payment).e. Copy of purchase contract and earnest money check/receipt.f. If renting, landlord address & phone # for past 12 months.g. Copy of driver's license or other photo ID.h. DD214 (VA only).i. Certificate of eligibility (VA only).At the time of your mortgage application, your lender will give you what iscalled a "good faith" estimate. This will give you a break down of what yourmonthly payments will be, as well as what your closing costs will be. Keepin mind that these figures will change slightly at closing, depending on theactual interest rate you lock in, what your final down payment amount is, andwhat day of the month you close.It is also important to understand that, throughout the loan approvalprocess, your lender may request additional information from you. Thisinformation may be required so that your lender can process the loanand give you a loan approval. It is crucial that you supply the lender withall information in a timely manner, so that you do not delay your loanapproval and the start of your home.Step 3Homeowner receives an acceptedand signed purchase agreementAfter you sign the purchase agreement, the originalcopy will be sent to our corporate office, wherebywe will sign and accept it.You will receive copiesof the executed purchase agreement via certifiedmail within twenty days of your signing date.Step 4Mortgage company issueshomeowner a commitment letterCongratulations! You have been officially approvedfor a mortgage. Once you receive your approval itis very important that you review any of thelisted conditions on the approval with yourlender, so that you understand what is expectedof you. During the remainder of the constructionprocess, it will be important for you to discuss anypotential changes to your financial status with yourlender. Whether you intend on purchasing a large item, such asan automobile, changing employment or even receiving a cash giftfrom a family member, it is vital that you talk to your lender first.The reason for this is to make sure you don't negatively affectyour ability to purchase your home. It is necessary for your fileand credit report to be updated thirty days before you close onyour home.Step 5Homeowner selects interiormaterials and finishesAn interior design consultant will contact youdirectly to schedule an appointment for you toselect your interior colors and materials.You willselect items such as flooring, interior trim, cabinets,countertops, and appliances. In the
