Congratulations on your decision to buy a new home.  Now let's get it financed.  The financing process can seem quite confusing if you don't know what to expect.  Not to worry.  We will help walk you through this process each step of the way.  Feel free to ask us questions at any time, and be sure to take some time to read this overview of the financing process so you understand what we are doing and why.

1. Apply for Credit.  In order to start the loan process, we need a minimum amount of information.  The loan application provides us with that information.  For example, we need to know who you are, where you live, how much you make and a little about your job stability.  We also need to view your credit history.  We have to know we can build a case to the bank that says that you can be trusted with this loan and that you can afford the monthly payments.  The credit application is the first step in building this case. We call this pre-qualifying for a loan.  Once pre-qualified you will know what price range you can shop for.
   
   When you apply for credit, we will need to specify whether you are seeking Chattel financing or Land/Home financing.  To view your loan options and learn more about them, click here.
    

2. Sign a Purchase Agreement.  In addition to seeking your pre-approval for a loan, you will need to indicate to us exactly what you wish to purchase.  We will detail your exact request on paper in a document called a Purchase Agreement.  This agreement ensures everyone involved has the correct expectations of what is going to be delivered and what is going to be received. You and a Creative Country Homes representative will both sign the agreement.  Once you sign the purchase agreement, you have made a commitment to purchase a home.
   
   You will also be asked to provide an earnest money deposit.  Part of your earnest money will be used to pay for an appraisal. This is a necessary part of any land/home loan. There may be other costs involved with processing your application.  The remainder of your earnest money will be credited to your down payment at closing.  If you back out before closing, you may lose part or all of your earnest money.
    

3. Seek Loan Approval. Once the loan process is started, our finance department works very hard to get you approved.  You are shielded from what is a very complicated process by utilizing our talented and experienced financing staff to build your case and seek the banks approval for your home loan.  You aren't completely off the hook though.  There are some essential pieces of information you may be asked to provide in order to push your request through the loan approval process, including:
   - Current pay stub(s)
   - W-2s for the past two tax years
   - All pages of the last three months of bank statements
   - Government issued photo identification and social security card
   - If self employed, tax returns for past 2 years
   - Down payment documentation
   - Awards letter on retirement, social security income or disability
    

4. Appraisal, Title and Land Survey.  If you doing a Land/Home package the bank will require that the home and the land and improvements be appraised to ensure the loan is appropriate to the value of the assets.  The title will be opened with a title company to be sure the land title is free (no liens, bankruptcies etc.).  And, a survey will be performed to verify your property lines, easements and set back lines.  This process is part of your closing costs.
    

5. Start Necessary Construction.  For Land/Home financing, Creative Country Homes will operate as the builder.  We will bring in the appropriate workers and contractors to accomplish all of the needed improvements to your lot.  This may include installing a septic system or tying into city sewer.  It may include drilling a well or tying into a water system.  Most Land/Home loans require concrete runners be laid beneath the house.
    

6. Deliver, Set and Trim-out Your Home.  During the construction phase you will have marked exactly where you want your home set, and an appropriate foundation will have been put in place.  In this phase of the process we will be placing the home on that location, hooking up your waste water and utilities, sealing the marriage line, skirting the home and finishing out the inside and outside. 
    

7. Complete Construction, Final Appraisal and Survey.  Once the home is all set up and all the construction is complete, the appraiser goes back to the site and confirms the homes has been delivered and hooked up to all utilities, skirting is complete, and A/C is hooked up and working properly.  A final survey is also ordered showing the exact placement of the home on the property. 
    

8. Closing.  The closing is where you sign all of the documents that make your loan official.  If you are buying your home separate from the property, we will be able to do the closing at the Creative Country Homes office.  If you are financing land and home together, the closing will take place at a title company.
    

9. Move In! You receive your keys, your house is ready, it's time to move into your new home.