Purchasing Process

Step 1:
As with any real estate purchase, it is all predicated on your credit history, credit score, debt to income ratios and asset reserves. Therefore, you must first get pre-qualified, which entails filling out and submitting a simple Pre-Qualification form.  Within 3-4 business days you will be contacted directly by a loan officer from one of our approved lenders who will give you the results of the pre-qualification, discuss the loan process in detail, including what type of end loan is best suited for you depending on your goals and exit strategy. Note: Fill out the form online, or print it out and complete - please print very clearly - and fax back to us at 352-624-0942.

It is up to you to get all the paperwork together and send it back in a timely manner so that your loan officer is able to process your file. During this time period, your loan officer will be in touch with you to let you the status of your loan and what, if any, additional documents may be required.

Step 2:
Once you have been pre-qualified, we will send you a contract for a "builder's lot" (see FAQ's for more information) for your review & signature. No deposits are required until your contract has been fully executed by the seller. Upon contract acceptance, we will contact you to send your lot deposit to the title company, which is then held in escrow until closing. Lot desposits range from $500.00 - $1000.00 are credited towards the full purchase price at closing.

Step 3:
Within 5 business days of execution of your lot contract, you will receive the Loan Package from our approved mortgage broker, along with the Builder's contract for your review and signature. Additional deposits of $400 are required at that time for the appraisal, along with the deposit for the Builder, generally $500.00 - $2,000. (Depending on builder)

As mentioned earlier, you should receive loan approval within approximately 45 days of sending all necessary financial documents to your loan officer. Again, during this period, you will be notified by your loan officer what the status of your loan is and if any additional documents are required.

Within 5-7 business days of loan approval, the title company will notify you regarding closing procedures and funds required. All closing documents will be mailed directly to you to review, sign and return to the title company.

Once the construction loan has closed, you can sit back and relax. The builder will take over from that point. The builder will take construction draws to begin the building process of your new home in Florida. During the construction period there will be interest charges that can be added to the total cost of your new home. These charges are minimal and can be wrapped into your loan so you will not be required to make any payments throughout the construction process.

Depending on how busy the Building Department is, it can take anywhere from 1-2 months for a builder to pull permits, due to the volume of construction in the county.