Our Preferred Lenders offer competitive loan programs which they will tailor to your financial needs, taking the time to carefully walk you through the process of obtaining financing while providing you with top-notch customer service. Talk to your sales associate about prevailing loan programs through our preferred lenders.


The Purchase - Once you have found your dream condominium, your next step is to make an appointment with your Sales Associate to complete the purchase contract and to put down an escrow deposit. Reading and understanding the purchase agreement and all the related documents can be daunting. That is why our Sales Associates are there for you. Please read these documents carefully. Owning a condominium is quite different from owning a single-family home. For example, there are the required monthly homeowners association dues, common ownership rights, and rules and regulations for living in a condominium environment. As with any legal document, make certain you are comfortable in your understanding of these documents before signing.

Prequalify - We strongly recommend you start working with one of our preferred lenders even before you sign a purchase contract to prequalify for a home loan. Then you will know exactly how much you are qualified to borrow.

Financing - Once you have your dream condominium home under a purchase contract, the next big step is obtaining financing. If you have not already met with one of our preferred lenders during the prequalification process, contact a Sales Associate to discuss your financing options. If you decide to use one of ours, we'll provide an extra incentive to you because we believe our preferred lenders can save you time and process your loan more efficiently. You will then need to submit a complete loan application to the Lender. As part of the loan underwriting process, the Lender will typically order a credit report and various types of verifications, i.e. employment, source of down payment, etc. Each Lender has their own set of underwriting criteria in order to determine your loan qualifications and gross loan proceeds they can make available to you. Upon issuing you a "good faith" and Truth in Lending statement, the Lender will arrange to have the condominium appraised. After completing their underwriting, if you qualify, they will set the loan amount and notify you that your loan has been approved. The next step is ordering loan documents and securing homeowners insurance.

The Closing - Once you have loan approval, the Escrow Company will work with you and Lender, and Seller, to schedule a closing date. The Escrow Company prepares an estimated settlement statement that itemizes your closing costs along with Lender-related closing costs. Purchasers usually pay for such things as appraisal fees, loan-related fees, escrow fees, prorated payments for property taxes and homeowners association assessments, and title insurance premiums. In addition to the closing costs, you will need to fund to escrow the balance of your down payment if you are obtaining financing, or the balance of the entire purchase price if you are paying cash. Once funds are received from you (down payment and any costs not included in the loan) and Lender (the loan proceeds), Escrow Company will prepare your final closing statement and documents, issue your title policy and record the deed. Now you officially take title to your own condominium!