FINANCING

Buying a new home can be a little overwhelming, especially for the first time buyer. The experienced staff at Joseph Homes believes the home buying process should be easy and hassle free. Our team will walk you through the entire buying process, from finding a home that fits your budget to making sure your closing runs smoothly. We will help you calculate your house payment to meet your budget, determine your credit score and find competitive mortgage rates. Let Joseph Homes take the hassle out of buying a new home.

PURCHASING PROCESS

The selection of a home site is the first step in any successful home building project. Consider schools, shopping, churches, commute, and any other factors that are important to you. When deciding on your lot, keep in mind that view and larger lots cost more and will affect your final construction cost. We often have to make slight modifications to floorplans or mirror image floorplans in order to take advantage of views and to accommodate setback restrictions.
Your agent is a very important member of the team. He/she should assist you with lot selection, help you obtain financing if needed, provide community information, and help you prepare for the closing. However, your Realtor cannot answer construction related questions. If you have questions about the plans, construction or our procedures, please call our office at 915 584-3868 or email us at: info@josephhomesep.com
Contract and Building Deposit/Earnest Money

Once you have selected your lot, it is time to sign a contract to purchase your home. This contract will be subject to your approval of the completed home plans and specifications. A contract is needed at this point for two reasons. First, your lender will need a contract to start processing your loan. Second, a deposit or Earnest Money is needed to reserve your lot and begin the preliminary plans for your custom home.

Custom Homes Only

Once your lot has been selected and we have the required deposit or earnest money, we can begin creating a preliminary drawing. This drawing is a general configuration of a floorplan and front elevation. It can be modified, as many times as necessary, until we have a good, basic preliminary plan that will work for you. Now is the time to study, analyze and make notes. The more information and feedback you return with these preliminary drawings, the better we will be able to create a blueprint that is truly the home you are looking for. The old saying “a picture is worth a thousand words”, applies at this point. If you have pictures of fireplaces, kitchens, baths, front elevations or any other design ideas of particular interest to you, they will be helpful through the design and decoration process.

Custom Homes Only

Once the preliminary drawing process is complete, we will prepare a set of working drawings and complete the specifications for your new home.

Please take time to analyze the plans carefully. Once construction begins, it becomes difficult to make changes because plans will need to be retrieved from our subcontractors and modified.

Even what seems like a minor change may affect several different subcontractors and suppliers.

Once we have received an approval letter from your mortgage company, we will submit plans to our bank of construction financing. It normally takes two to three weeks to process this construction loan.

During this time, we will obtain necessary permits from the city and complete preliminary items in preparation for the start of construction.

The selection of finish materials and allowance items is the next step in the schedule.

You will be contacted and an appointment will be set up with Cindy Najera, owner and person in charge of color selections. We have tried to streamline this step, since it has generally been the most time consuming and known to cause delays if not done on time.

We have beautifully coordinated color schemes that include interior and exterior paint colors, roof tile colors, lighting packages, carpeting, tile, stone, and granite samples. Once the decorating list is complete, we begin to order the materials selected.

Any changes or upgrades not included in the original sales contract must be paid for in advance. If you feel the need to make any changes after construction has begun, we will try to accommodate them. Please understand that all changes must be in writing, on a change order form. We will get cost estimates, if you approve them a check must be received from you at the time of the change order acceptance – before any work is done. Example: You decide that you need an additional built-in cabinet in the living room. We will get a cost estimate from the cabinet maker, and a Change Order Form will be drawn up so that you know the cost. Sign the Change Order Form and return it with a check to the builder, then the work will be done. Money received for change orders is nonrefundable after the work is done.

Please feel free to visit your new home during construction as often as you wish. Job sites are dangerous, however, so when you visit please be careful. We ask that children not visit the site for safety reasons, especially during the first few weeks of construction.

During your visits you may notice missing items, something that looks out of place or items needing additional work. If you do see something out of place, we are probably aware of it also. We constantly monitor your new home and it will come together quite nicely at the end. If you notice something that is not what you ordered, or if you have a question, please call us at 204-4886 or 694-4894.

Most items we have in our decorating center are current. However, suppliers and manufacturers sometimes discontinue items or may have a production date that will not fit into our construction schedule. If this happens, we will find the closest possible substitute available and submit it to you prior to installation. We have found that if we can complete the selection list and order materials early in the construction schedule, substitutions and delays are usually not necessitated.

If you are considering locking in an interest rate, please call us first. We can give you a “safe date” to make sure your home is complete.

The final two weeks of construction are a busy time. This is the point when your new home truly takes shape. We will be installing and completing all final detail items including hardware and final trim pieces. When you visit your home during this time, it will seem like we will never finish on time. Not to worry, we will be inspecting your new home inside and outside, room by room, and listing all items that do not meet our high standards. Please wait until just a few days before your scheduled closing to do your “walkthrough”. During the “walkthrough”, you will be able to write out a “punchlist” for any additional items that need attention. We will address these items before your closing. You are also encouraged to hire a 3rd party home inspector of your choice to do a thorough inspection of your new home.

The closing takes place at the title company and at this time you will be signing all paperwork for your home purchase. We will provide warranties, Affidavit of Completed Construction and keys to your new home (finally!) at this time.

The Title Company requires a cashier’s check to close the loan, so be sure to have the funds available a few days prior to closing.

Joseph Homes provide a One Year Warranty on your home. If you should have a problem requiring our warranty service, submit a warranty request here. We will review your request and schedule an appointment to inspect and repair any warranted defects. We try to complete all work orders within 10 days and our subcontractors have been advised to maintain this level of service also.

Homebuilding requires thousands of components and dozens of tradesmen working together over a three to eight month period to transform the lines and angles on a blueprint into your beautiful new home. We intend to put forth our best efforts throughout the construction process. We know you will be pleased with the end result!

MORTAGE CALCULATOR

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*This is only an estimate. Your actual payments may vary.

CLOSING COST ESTIMATOR

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*This is only an estimate. Your actual closing costs may vary.