Financing A NEW HOME
Financing your Lifestyle Home
At Lifestyle Homes, we do our financing a little different… rather than making you get your own construction loan, we finance EVERYTHING, until your house is completed. This means the only thing you have to do is get your long-term financing lined up. Yep, it’s that easy.
Obtaining your long-term financing with our approved lenders
Most Lifestyle Home buyers obtain long-term financing, also known as a mortgage, to finance their new home. On any home that is yet to be constructed, you must obtain approval by a lender to qualify. Check out Lifestyle’s approved lenders.
PREPARE TO BUILD YOUR NEW HOME… We will help!
Where obtaining long-term financing is your responsibility, your Lifestyle Homes sales agent is available to help you provide the information to the lender…Awesome Right?
The following is a list of items you should bring to your loan application:
Last 2 Years Worth of:
- Tax returns
- Addresses of places you have lived
- Names, Addresses and Phone Numbers of Past Landlords or Mortgage Holders
- Financial statement
- Social Security Numbers and IDs
- A $50 check for a credit report
- A $300 check for an appraisal
Declined for a Mortgage?
So what happens if you’re not approved for a loan?
- If on a home not yet built, you’re not approved within 21 days after acceptance of your purchase agreement… then Lifestyle Homes will refund your initial deposit
- If you’re purchasing a previously constructed home or a home that’s already under construction… unfortunately, all deposits are non-refundable
What About Cash Purchases?
If you have got the cash and elect to purchase a home on a cash-only basis, Lifestyle Homes requires evidence of ability to pay cash within 7–10 days of the date of the Real Estate Purchase Contract.
How much can I afford?
As a general rule, how much you can afford depends on your unique situation. This is one of the many important reasons why you should consult with one of our experienced loan professionals. Our mortgage team will look at your personal circumstances and help you decide what will meet your needs.
How long does the loan process take?
You can pre-qualify online at no cost to you in about five minutes. You’ll receive a response from a loan officer within one business day. Once you are pre-qualified, meet with your real estate agent and let them assist you in finding the perfect home. Once you have found a home and supplied the loan officer with all the necessary documentation, the entire process is quick and easy. We don’t have to send our loans out-of-state because we have our own in-house underwriting and closing staff. This makes the whole loan process much faster and easier for everyone involved.
What does it mean to be “Pre-Qualified”?
A pre-qualification is an estimate given by a lender stating that you “should” be able to buy a home up to a certain amount. This is an estimate only and may help you in deciding to make an offer on a home. Getting pre-qualified is an important step to being prepared to buy a home; it’s FREE and takes only a few minutes.
Closing on your Lifestyle Home
See more information about our closing process.