Saturday, February 22, 2014

Building a New Home - Start up!

This blog is a journey my wife and I are taking to build our dream home, we are a little way into the process so this post will be some what of a catch up from our start to where we are at today.

A little background to get us started, we have been in our first home just about 8 years and after one failed attempt to sell and move a few years back, we decided to save up and try again this time without the contingency of having to sell our current house just to be able to do the down payment.

We had been looking at newer homes but not new construction for a while and hadn't found the right home for us, at least not one in the price range.  So we took a look at new construction, which led us to a Ryan Homes site.  We fell in love with the Florence model on our first visit, went home and worked out the numbers.  The next day we began the journey and placed a lot hold on the best lot left in the neighbor hood, only 4 were available.

By the following weekend we were signing the sales agreement, with modest upgrades.  We were really doing this, and getting really excited about it.  The fun part was up next preparing documents for the loan, we received from our sales rep a checklist, so while it was a lot of gathering, the task was not to burdensome.

That next Friday was loan day, my wife and I woke up for the first appointment of the day and made our way over to the mortgage company.  We went with Ryan's affiliated mortgage company NVR Mortgage, based on an incentive in the home price.  Our mortgage sales person was nice, took care of business professionally and expeditiously.   We were out in about an hour and a half and feeling really good about our chances.

APPROVED - just about 10 days later we were approved, still some more papers to get over to them but we have the commitment letter in hand.  We are moving right along in the process.

Now we just need the weather to turn, this has been a brutal winter lots of snow and bitter cold, we need that to turn so we can get started.  Now that you are all caught up I will keep you posted as we go.

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