Frequently Asked Questions
Buying a home is quite possibly the largest purchase decision you'll ever make. You're bound to have questions. We have answers. Our team of New Home Specialists is here not only to provide answers, but also to listen to your needs, helping you along the journey to your new home.
Want to talk? Give us a call at (866) 696-7432. Or, you can always email us your questions.
Take a look at what other home shoppers like you are asking and how we're responding.
- I'm interested in buying a new home. Where do I start?
We're so glad you asked! Purchasing a new home is an exciting process and there
are several steps along the way. The first step in the home purchase process is
research. Since you're here, you're off to a great start! Next, make a list of
neighborhood and home features most important to you. Visit communities and
homes online and in person. Consider your budget and determine how much new home
you can afford. Narrow your selections and focus in on your dream new home.
For a complete view of the home buying and building process, visit our Home Buying Guide >
- How long will it take to build my new home?
- Typically, the building process for a new home is about 4 to 6 months.
- What is a Quick Move-in Home?
- A quick move-in home is a home that we've started building to meet the needs of those home shoppers that have want a new home but would like to move in sooner than the typical build process. Since a quick move-in home has started being built, the time it takes to close on the home depends on how far into the building process the home is when you purchase. Quick Move-In Homes can often close within 30 days.
- Can I personalize my new home?
- You sure can! In addition to choosing a home floor plan, you can choose the exterior architectural-style of your home. Additionally, many of our homes offer construction options such as customizable flex spaces and the ability to make a bedroom into a home office or den or vice versa. Personalize the inside of your home by choosing your flooring, appliances, countertops, cabinetry and much more.
- Is the land included in the price of my new home?
- It is. When you purchase a new home, you are not only buying the home itself. You are also buying the land that the home is built on.
- What is a Homeowner's Association?
- The Homeowner's Association (HOA) is responsible for the maintenance of the overall community and its amenities. Functions of the HOA may include administration of the rules and regulations of the community; maintenance and upkeep of common areas including community centers, swimming pools, parks, tot lots and health club facilities. Typically, a fee is paid to the Homeowner's Association by residents of the community. This fee varies per community.
- What costs should I take into consideration when budgeting for my monthly home payment?
Property taxes, Insurance and Homeowner's Association fees need to be considered
when determining how much you can afford to pay per month for housing. The most
basic mortgage payments include payment of the Principal (P) and Interest (I)
only - referred to as P&I - on a monthly basis. If that is the case with your
loan, you will also want to factor in the dollars you will need to pay property
taxes and homeowner's insurance separately in addition to your mortgage payment.
Other loans are set up to include the Principal and Interest (P&I) and Taxes (T)
and Insurance (I) - commonly referred to as PITI. If this is how your loan in
structured, payments made to the lender will include not only your principal and
interest but also your taxes and insurance. You'll also want to factor in
Homeowner's Association fees and, if you are putting less than 20% down on your
home, Private Mortgage Insurance (PMI) may be required.
Review our 5-Step Mortgage Process >
- How do I determine what the interest rate on my home loan will be?
There are many factors that go into determining what the interest rate for a
loan will be so it is not at all surprising that you are asking this question.
In most basic terms, an interest rate is a fee paid for borrowing money.
Interest rates fluctuate daily based on economic conditions and your specific
interest rate will depend on you and your financial habits. So, when you search
online for "today's home loan interest rates", the rate you see listed in the
search results is probably not the rate you will end up paying - that is just a
starting point. Your interest rate will be determined based upon how much money
you borrow; what type of loan you get; how long you plan to take to pay off the
loan; your down payment amount; and finally your credit rating.
Read further for an Overview of Home Financing >
The information on this page is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind. Please consult with an expert to get information specific to you and your situation.
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