New Homes Buying Guide Lines

Getting Started

Owning your own home is the American Dream. The home buying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own Crown Communities home!

The first step is to determine how much you can afford. What you can afford depends on your income, credit rating, current monthly expenses, down payment and the current interest rate. Most homebuyers purchase homes that cost between 1.5 to 2.5 times their annual income. Of course, this figure can vary due to market prices in your area. In general, your mortgage payment cannot exceed approximately 28-29% of your gross monthly income. Your total debt payments (car payments, credit card payments, etc., plus the monthly mortgage amount) can't exceed approximately 36-40% of your gross monthly income. These ratios will depend on the type of mortgage you apply for.

Selecting a lender is one of the most important steps you will take in your home buying process. Using a “preferred” lender can save thousands of dollars and assure a smooth loan process.

We currently have five preferred lenders that we work with to help you finance your new home. Our preferred lenders have special programs that include, but may not be limited to, paid closing cost packages.

To learn more about our lenders and their packages please click on the images below.

Preferred Lenders

 

	First Bank Mortgage   Too often, the mortgage process can be cold and impersonal. Lenders use a “cookie cutter” approach and shuffle customers through the exits as fast as they can get them processed, with no regard for courtesy or convenience. We take a different approach. We recognize that no two homebuyers are alike, so we work hard to tailor a home loan to your individual needs. Our expert loan officers have years of experience finding the perfect loan program for each buyer who walks through our doors, and we take pride in striving for 100% customer satisfaction in all that we do. Throughout the mortgage process, we are dedicated to maintaining the friendly, personalized service you expect from a community bank.
	Henger Rast Mortgage Why Henger Rast Mortgage?  We are a local mortgage banker, licensed and delegated by the State, Fannie Mae and Freddie Mac to originate, process, underwrite, close and fund mortgage loans.   Henger Rast is a very unique model for the markets in which we operate. We control the lending process to make it run very efficiently. Our full time underwriters provide loan decision in hours not days or weeks. Contact David Jacobs at 404-906-4979 today!
	Proficio Mortgage New name, same people!   We at Proficio Mortgage have had a long relationship with Crown Communities and are very proud to be one of their preferred lenders. All of our mortgage services are under one roof, from origination to closing.  What this means to you as a homebuyer is that your file is not brokered out to another source for underwriting and approval and the staff is able to provide answers to your questions 7 days a week.  Our loan officers are very experienced in a variety of different loan programs, from FHA/VA to USDA.  We also pride ourselves in being able to help those who are credit challenged.  We can give you good advice to put you on the right path to homeownership.  Our goal is to provide you with the best customer service available and make your home buying experience as it should be….exciting and rewarding.  Please call Kathleen Westbrook at 678-360- 8802 kwestbrook@proficiomortgage.com or Chris Schoenthal at 70-715-5380cschoenthal@proficiomortgage.com and let us help you begin your journey to a Crown Community.

           Ivy Landing Preferred Lender

Security Federal Bank    Security Federal Bank is a full service, community-driven, financial institution dedicated to building long-term relationships with people and businesses in the areas we serve. We were founded in Aiken, South Carolina in 1922 to meet the demands of a simpler time. Security Federal Bank mortgage department in Evans, Ga. offers superior customer service, same day approvals and local underwriting and processing. We offer Conventional, FHA, VA and construction/permanent loans. We have the capacity to in-house mortgage loans which do not meet the current underwriting guidelines. One of our unique programs is our expert credit counseling service. This program is designed to help people overcome credit obstacles and help them achieve their financial goals – ultimately preparing people to purchase a home.      Please contact Christel Hammond at 706-650-6787 today!

Mortgage Application Check List

Be Prepared

When you are ready to apply for your home loan, please be prepared to provide the following information and property documentation to your loan officer:

• For Home Purchase Loans: Sales contract with original signatures along with a copy of any earnest money check paid for deposit towards the home purchase.
• Residency: If you have been renting within the last two years:
  a. Complete address
  b. Landlord information (Name, address, and phone)
• Employment: Name(s), address(es), and phone numbers of all employers for the past two years.
• Relocation: Copy of employer's relocation agreement.
• Income:
  a. Past two years W-2 or 1099 forms.
  b. Past two years tax returns for any persons who are self-employed, commissioned, or using bonus or investment income to qualify, and a year-to-date profit and loss statement.
  c. Last 30 days period of pay stubs (including bonus and/or commission pay).
• Current Liabilities:
  a. Current balance and minimum monthly payments.
  b. If recently paid off, then a copy of the payoff statement.
• Divorce or Separated Persons: Complete, signed divorce petition, recorded final decree, and/or separation agreement.
• Rental Properties: Copies of current leases and tax returns.
• VA Loans: Copy of dd214's and certificate of eligibility.

WHAT TO DO WHEN YOU CAN’T FIND REQUIRED EXHIBITS:

LOST BANK STATEMENTS

• Request a verification letter from your bank on their letterhead, signed by a Bank Official. The verification letter should verify all name(s) on the account, account number, date the account was opened, current balance and a two (2) month average balance.

LOST W-2’S

• Your employer is required to keep copies of W-2 forms for seven (7) consecutive years. Request duplicate copies from your employer.

LOST HUD-1 CLOSING SETTLEMENT STATEMENT FROM SALE OF PREVIOUS REAL ESTATE

• Request a copy of the closing statement from the closing agent (Attorney and/or Title Company) that closed the previous sale.

LOST PAY STUBS  

• Request from your employer a duplicate copy of your paystubs or a payroll printout for the most current 30 days. If your employer does not issue paystubs, obtain a copy of the payroll ledger and cancelled checks for the most current 30 days. In the case of employee bonuses, overtime or commissions, obtain a signed letter from your employer on company letterhead. This letter should verify the actual amount of commissions, overtime and/or bonuses paid to you for the most current and consecutive two-year period. 

LOST DIVORCE DECREE

• Request a copy from the Attorney that handled your divorce or obtain a copy from the County in which the paperwork was filed.

*Information provided by our Preferred Lender partner, Opteum Financial Services.

Finding your Crown Communities Home with “the perfect fit” is easy! Crown Communities has over 21 new home communities in the metro Atlanta area. One is sure to fit your needs!

… the perfect fit

Create a wish list of what you want in your home. Keep it with you as you look at our Communities and note which homes fit your needs!

• Number of bedrooms and bathrooms
• Master bedroom location
• Square feet and size of home
• Fireplace
• Garage
• Closets and storage
• Laundry room location
• Two story home or ranch

Call a Crown Realty associate at 678.509.0555 for assistance in your home purchase.

 

Mortgage Calculator

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