An Overview of the Area

This is an important tool for several reasons.  There are many different communities that comprise the "Savannah Area" and it helps to get a familiarity with them, their "look", their personality, their amenities, etc. and where they are located in relation to your job. 

My company represents the area's largest local homebuilder with over 16 new home communities to choose from.  I can help you narrow your search by providing location information, directions, pricing, what homes are available and when, and how long it will take to build your new home.

After we've refined your search, the appointments get made!  Very easy to do.  Most re-sale homes have lockboxes and sellers are very accommodating.  Of course, if you are looking at new homes in one of our communities...I have a key!  It's important, though, that if you are already working with a realtor that they accompany you on your initial visit.

           
Qualifying for the Mortgage

When you're ready to make a purchase, a pre-qualification letter from the lender is necessary.  Therefore, it's important to start this process first, sometimes even before you begin your search.  Also, this gives you the added benefit of knowing "how much house" you can buy.  The Lender can discuss various loan programs available and help uncover any issues that might need to be addressed before applying for the loan.

Play around with the mortgage calculator on this page and see what you think.  I can recommend one of our preferred lenders who is familiar with our communities, sales staff, policies and requirements - which can provide a faster and less complicated loan process.  They can answer your questions quickly and accurately and keep you up-to-date.  Preferred lenders offer a full range of financing, competitive rates, and expert mortgage counseling. 

Using a preferred lender can save you money, too. We often extend special incentives to buyers who secure their loan with one of our preferred lenders.


Building Your New Home

 

1.  Sign Purchase and Sales Agreement.  Well, we've found just the right floor plan and are ready to write the Purchase and Sales Agreement.  It shouldn't be a scary thought because we have done our homework.  We'll review your floor plan, homesite selection, standard home features, design options and upgrade possibilities.  At the time of signing your agreement, you will need to bring a 2% earnest money deposit.  This amount is figured on the total sales price.  Once your Agreement is accepted by the builder you will need to submit your agreement and loan paperwork to the lender.

 

2.  Visit our Design Gallery.  Now comes the really fun part!  Our Design Coordinator will contact you to set up a consultation.  She will spend a couple of hours with you looking at samples of flooring, cabinets, countertops and other cool stuff for the interior and exterior of your new home.  If you are purchasing a completed home, please skip to #5.

 

3.  Now Wait!  It will take 5-6 weeks to get your choices put together and obtain a building permit.  You will receive a call from the builder's office to set up a pre-construction meeting.  At this meeting you will ask any construction questions you may have and make any design changes necessary.

 

4.  NOW construction will begin on your new home.  Stages of construction include:

Foundation

Framing

Roof

Electrical and Insulation

Sheetrock

Wood trim and doors

Counter tops and Paint

Flooring

Exterior Finishes

Landscaping

 

5.  Walk-Through.  A few days prior to closing the builder's representative will take you through your new home and explain how things work, describe how to initiate warranty service and give you tips on taking care of your new home.

 

6.  Closing.  A real estate "Closing" is where the title to the property is transferred from the seller to the purchaser.  If you have obtained a loan, the lender's required documents are signed and executed at this time.  Since South Carolina and Georgia are "Attorney" states, the closing will take place under the direction of an attorney who represents your lender.  The builder's closing coordinator will be there to answer any last minute questions and give you the keys to your new home!  Be sure to have all utilities (electric, water, etc.) transferred to your name effective the date of closing.

 

7.  Then What?  Ah, this is the time you begin to enjoy your new city and state! There is so much to see and do here. 

 

 


Mortgage Calculator



Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %