So, outside of a few Facebook post (if that can be consider
as blogging) I have never done this before. On request from my sister I've
decided to share our story for whoever cares to take a moment and read my
rants....lol. I must warn you, this post is super long but it starts at the beginning
and up to the here and now.
little over a month ago when a friend and I decided to go window shopping homes.
We decided to tour a couple of the builders in the area to get a feel for what
was out there on the market. We visited quite a few builders and this
is my personal scale:
Ok but not that impressed: Mattamy Homes and True Homes.
A maybe...kind of like it, but let’s see what else is out there: MI Homes and
Really nice but can never afford: Shea Homes (my friend loves Shea Homes).
After a few hours I tell my friend...ehhh not find anything that say's me, nothing
that makes me want to break the check book out. We continue to look around with
low expectations on finding anything that day. Realistically who expects to
find their dream home in a few hours? Just when I thought the next model we
drove up to was going to be just as disappointing as the last one, we pulled up
to the Ryan model.
The model available was the Milan which is both beautiful and really
affordable; but not big enough. We need at least 4 bedrooms and the Milan is
only 3. While talking with the sales rep, I was very clear in telling her what
I need and unfortunately this model wasn’t going to cut it. (Side note about
me: I am a northern girl recently transplanted in the south. I am very
direct, honest and animated when I talk so she can immediately tell she's in for
it with me...lol) I explained what I was looking for and she sent us to
tour a just completed Naples which is also a 4 bedroom with a warning to have an open mind when viewing. I was a little confused on the disclaimer but immediately understood when I
stepped into the home. The owners choose not to upgrade anything and the house was very basic. My response: Even with an open mind it's a
NO...did not like it at all! The sales rep laughs and then tells me well
"I bet I know what you will like, there is the Rome model which is a 4
bedroom in another area but because of the time I wouldn’t be able to tour
over to this mode we’re supposed to really like and guess what??? We LOVE
IT!!!!It is so home!!!! I can instantly picture my family and friends gathered
in this home and know just like that this is the one. Oh and hubby really
likes it too. After leaving the model we drive all the way over to the original
sale rep to tell her... we love it.
It’s now time to sit down and talk estimates; of course you want but can’t have
everything and keep your price low so we pick only must haves as our upgrades. We
need to keep our price point under 200k because we’d like to use the NACA program
to finance our loan and for our area the home can’t be over $200k.
Here's when we hit the first slight ripple.
The rep tells us how she has a meeting with NACA this week to discuss how to
improve their working relationship for clients. According to the rep NACA is
really slow and it causes quite of few potential homeowners to abandon the
process because they take so long. She also explains how the program does
not work the same with Ryan as with other builders, because Ryan does
not have a lot of inventory to provide large markdowns to buy down the
rates. She suggests we try to apply for other funding if this is something we
really want to do just as an alternative option in case NACA does not work out.
I kind of feel the air deflate just a little from my happy bubble. This is not
the first time I’ve heard about NACA’s reputation for being extremely slow among
other things. I know the program is an awesome program and it helps a lot of
people but from my research it seems you have to practically ride them to get
things done. I also don't know what our
chances of approval are with normal banks either. With all the tougher
requirements in the mortgage industry I’m just not confident on where we stand.
Like with most people, we we're not the most credit savvy in the beginning, but
I have been working really hard to try and repair the mistakes of my youth.
After dinner, hubby and I sit down to have a talk and we're just not sure if we
will be able to buy this year. Our lease is up in September and we’d need to
give at least give 60 days’ notice if we're going to move. I really don't
want to stay in the town house for another year but can't pinpoint when NACA will
approve our loan. I decide to call my NACA representative to schedule an
appointment. During this time a Lending Tree commercial comes across the screen
and with laptop in hand I debate. Should I apply and see if we can get
approved? If we apply and don't get approved how much will it hurt our already
recovering credit? Finally, I say to hell with it and apply with Lending Tree.
I tell hubby look, we'll just see what happens; if it's meant to be then it
Nothing happens...I'm so sad and upset with myself, I go on with my crazy work
schedule and try not to think about my failure.
Monday 12 am...technically Tuesday
My phone dings signaling a new email has hit the inbox. I have a message from
the bank stating you've been matched. I need to call the bank first thing
tomorrow to follow up. OH MY GOSH...I call the hubby right away with the news.
Now I'm so nervous I can't even sleep. I have to talk myself down saying don't
get your hopes up girlie it's just a phone call.
Tuesday 8 am
I call the bank but the assigned mortgage rep does not come in until 9am...lol
I get a call, we talk about something’s, I fax over something’s, I email something’s
and then finally when I can’t take it anymore, I ask so does this mean I can
get a approved? Rep laughs and says "oh yeah, your good. I would like for
you to pay off a few credit cards to push your score a little higher but your
fine."WHAT!!!! I can't believe it! I thought he was going to tell me no
ma'am we made a mistake. Turns out all my hard work is paying off big time.
I have my preapproval!!!!! Ryan here we come!
Over the next couple of days hubby and I view a few sites, going back and forth
between moving to the outskirts of town or in the city. We finally decide on
the city since one of our biggest issues living back home was the commute to
work. We definitely did not want to purchase a new home with a hour long
commute. We talked to our rep and picked a lot. My rep wrote up our purchase
agreement and we signed with a small deposit.
incentive for agreements completed before 03/15 to receive an appliance
package. I hate to admit this but this is my first home and I assumed all homes
come with a refrigerator...right??? Wrong! If not for the sign I would have
assumed the house came with a refrigerator. Now it's a race to make sure I get
my contract rectified before 03/15 so I can move in with not only a
refrigerator but also a new washer and dryer.
We took the kids by the subdivision to show them where we’ll be moving and
turns out we gave the rep the wrong lot number....CRAP!!! I had to rush over to
meet with the rep to sign an addendum for the correct lot before it was
snatched up by another family. Whew, so glad we caught that!
Few days later one of my coworkers mentions that Ryan Homes was just starting to
build in his subdivision. Really! They didn't tell me that, it wasn’t even
posted on the web site when I checked. I immediately sent my sales rep an email
because I really like his subdivision plus it would be nice to know someone in
the neighborhood. In my email I ask her if it's was too late to change to a different
subdivision. Plus I requested her to send me what the price difference will be
if we decided to change; and what was the difference in taxes and HOA fees from
our original subdivision?
Response email a few minutes later: Calm down! lol. Sales rep promised to
research and get back to me with the information. Informed me she believed the
price was more than the original. Of course I now want to get in the car and go
look at the other subdivision at 9pm at night just to be sure I really love it
more than the one we have now. Hubby shuts that idea down quickly. Tells me I’m
being ridiculous, it's late and dark out. Hubby informs me “we’re not going to
be able to see anything out there tonight because it’s dark." Now at this
point we have a slight disagreement, I pout but finally realize he has a point.
I spend the night stalking the internet searching available properties in that particular
area and discover to build there is going to increase our purchase price by
$9000. Wow! Is it worth it? Internally I debate this question all night long.
view the site and send me pictures of lots he likes. After work my husband and I
drive to the site and ride around viewing the available lots while discussing
the pros and cons of changing our subdivision.
point my husband just wants to pick a lot and stick with it.
them as well and then decide who to choose as a lender. I overnight the
mortgage application and all required documents back to NVR the next day for
Ryan’s signature should have paperwork by Thursday.
What!!! So now I’m really annoyed and beginning to have second thoughts. I mean
really, they can’t deliver a contract when promised but I’m supposed to trust
them to build me a home??? Apparently there is only ONE person that reviews all
contacts before submitting them to the VP for signature and he is on vacation; really?
One person in this entire organization, what would happen if this person decided
to quit or got hurt? I feel slightly guilty because sales rep received an earful
contract was completed! Yay! My rep is the best she took care of this on her
day off! I should send her something right?
check to my sales rep for our deposit.
04/12/2011 and the date for our preconstruction meeting is Wednesday
who cared to keep reading, you are all caught up on where we are in our
process. My husband would like for me to share how happy he is that I am now
sleeping again and not up interrupting his sleep. As well as how much he can’t wait until it’s
all done because I am driving him crazy.
entries from here on out will be MUCH shorter than this one. I had a lot going
on within a short amount of time getting me to this point.