In the News...
07.07.05
Fast facts about modular homes... click for more...
07.07.05
Site built, modular and manufactured homes: different types of construction click for more...
07.07.05
Zero Downpayment Mortgage Would Aid 50,000 First-Time Buyers, Builders Tell Congress click for more...

Customer

• Applies to mortgage lender for pre-approval
• Selects Superior Home Values home to build and decides on options with builder.
• Signs a purchase agreement and gives builder a deposit
• Applies for the Construction-To-Permanent One Close loan
• Mortgage loan is closed
• Land is purchased (if builder owns land)
• Provides down payment
• Monitors construction with builder
• Makes interest only payments on construction loan funds disbursed
• Final walkthrough with builder
• Supplies proof of homeowners insurance

Builder

• Prices the home for proposal to the customer
• Signs the purchase agreement/receives deposit from customer
• Applies for building permits
• Provides plans and specifications to mortgage lender
• Orders title policy after loan approval is received (if builder owns land)
• Orders survey (if builder owns land)
• Receives disbursement checks from mortgage lender payable to builder
• Orders all building inspections
• Deeds land to customer (if applicable)
• Builder schedules final inspections
• Schedules closing
• Supplies Certificate of Occupancy and receives final payments

Lender

• Starts Pre-Approval
• Counsels customer on financing
• Provides pre-approval package
• Approves customer for loan
• Provides mortgage commitment
• Orders title policy after loan approval is received
• Closes loan after application approval, title work and appraisal have been received
• Orders inspections based on builder's request
• Provides draw funds available for disbursement at various stages upon inspection
• Orders and receives final inspection before final disbursement
• Provides final disbursement upon receipt of Certificate of Occupancy, final endorsement, and homeowner insurance policy