Helping homeowners build fabulous, custom residences, Harcrest Homes understands that choosing to construct your ideal home is only the first step. The homebuilder’s talented team is there for every step as clients navigate the confusing and complex process of finding custom home financing options that are the right fit.
To provide a little clarity, the custom home builder teamed up with Ameris Bank to help clients navigate the intricacies of the homebuying journey. A Harcrest Homes preferred lender, Jeff Ruehman with Ameris Bank discusses the current rate environment and the lending process as well as shares tips for homebuyers preparing to apply for a loan.
What Can Buyers Expect Throughout the Lending Process?
The lending process for buyers working with Ameris Bank as their preferred lender starts with a phone consultation to discern the client’s goals and reasons for applying. Then, they complete an online application and become pre-qualified. During the home shopping process, Ameris Bank collects required documentation from the homebuyer.
Once the borrower is confident in their custom home design selections, they sign the Harcrest Homes purchase agreement and Ameris Bank verifies employment to complete the loan approval process. The following step is the most exciting yet: Ameris Bank brings the homebuyers to the closing table to take the next step towards a new life in their new custom home!
Any Advice for Harcrest Homebuyers Preparing to Buy a Home?
According to Ruehman, it’s important to remain proactive as you enter your homebuying journey. A complicated and often frustrating process, it can be easy to fall into a rut when searching for the perfect home. Once a homebuyer decides to build their custom residence with Harcrest Homes, beginning the lending process is the next easy step!
Reach out to your preferred lender as soon as possible to ensure you qualify for a suitable loan before getting too far in the homebuying process.
What Documents/Information Do Homebuyers Need to Provide When Applying for a Loan?
For most buyers, the list of required documents needed for a loan application is simple. The required information homebuyers should be prepared to provide include:
- Most recent 30 days of paystubs
- 2 years of W-2 forms
- 2 years of tax returns
- 2 months of bank statements, including retirement accounts
- Copy of driver’s license
- 2 years of residency and employment history
- Basic personal information, such as your social security number
Those applying for special loan programs may also need to provide additional documents. The list above is a fantastic start for those preparing for the lending process. For most homebuyers, this information is all you need to ultimately earn approval and be one step closer to creating your dream home!
Why Should Homebuyers Apply for a Loan with Ameris Bank?
The number-one mortgage lender in Georgia, Ameris Bank offers affordable rates and closing costs compared to typical market rates. Top-level service is regularly delivered to clients via a team of expert, experienced loan officers to help homebuyers navigate custom home financing options in a range of special packages.
What Are the Different Loan Programs Available to Borrowers?
Just as no one homebuyer is the same, no one mortgage loan program is the same as well. Ameris Bank prides itself on offering virtually every mortgage loan program available on the market. These offerings include but are not limited to:
- Adjustable interest only
- Conventional
- Jumbo
- FHA
- USDA
- VA
- Portfolio Loans
- Bond Programs
- Medical Professional Loans
- Fixed-Rate
- Construction Permanent Loans
How Will Rising Interest Rates Affect Homebuyer Mortgages?
While interest rates seem to be on the rise, it’s crucial to keep a few things in mind. First, rising rates traditionally shrink a homebuyer’s ability to qualify for and afford homes. Second, the market’s current rates are still experiencing historic lows when compared to previous years, apart from the last few years. With the existence of affordable rates, homebuyers should feel encouraged to explore the current housing market!
Please note that homebuyers often qualify for more than they require to buy a home. In practice, rising rates will affect affordability more than qualification.
Is There Anything Else Buyers Should Know About the Lending Process?
It’s important to remember that an overwhelming majoring of borrowers qualify for the loans they need to step into their dream residence while rejections are more uncommon. A large percentage of homebuyers become discouraged by the borrowing process due to its intimidating nature. In place of delivering immovable turndowns, Ameris Banks takes the extra step to educate the homebuyer on how to improve an application to achieve loan approval. Ruehman shared that it is essential to take the first step and begin the loan process and receive advice from a lender versus not beginning the process at all.
Ameris Bank recommends choosing a local, reputable lender for your borrowing needs who comes recommended by your chosen builder, real estate agent, friends or family. By selecting a qualified lender such as Ameris Bank, borrowers will receive valuable counsel and experience a smoother path towards homeownership. Ameris Bank aims to accommodate every single loan and close on time.
It’s also important to remember that it is still a fantastic time to buy a home, despite what the media portrays. Ameris Bank continues to offer low mortgage interest rates and suitable loan options to perfectly adhere to your current financial situation, future goals and lifestyle.
Click here to learn more about selecting Ameris Bank as your preferred lender. To take the first step towards your custom home dreams, visit www.HarcrestHomes.com/New-Home-Purchasing-Process/.