The following information is courtesy of
ryanhomes.com. I have found it very helpful in learning about the process of purchasing/building through Ryan Homes.
Seven Steps to Homeownership
Buying a Home the Ryan Way
Buying
a home is a big decision—one that might seem daunting. While this may
be your first time, relax. We've been helping folks find and purchase
their dream home for more than sixty years now. Here's how it works.
1 Reserve a Homesite
Work
with your sales representative to prepare a cost estimate of the home
type, homesite, and features you want. Fill out a few preliminary forms
for your loan application, and make a "good faith" deposit to secure
your chosen homesite.
2 Personalize Your Home
One
big advantage of buying a newly built home is the opportunity to really
make it your own. Spend some time to carefully select all of the custom
features and color choices that help personalize your home.
3 Complete a Purchase Agreement
Meet
with your sales representative to authorize your purchase agreement and
make your initial deposit. (Note: We'll return your homesite
reservation deposit at this time. In the event that you are unable to
obtain a mortgage commitment according to the purchase agreement, ALL
deposits will be refunded.)
4 Apply for a Mortgage Loan
Within
seven days of signing your purchase agreement, contact a mortgage
counselor and complete a loan application. For your convenience, Ryan
Homes has its own mortgage company, NVR Mortgage.
Why use NVR Mortgage?
5 Complete Your Down Payment
Once
the purchase agreement is complete, your sales representative will tell
you when the remainder of your home-purchase deposit is due. This
deposit, representing the balance of your down payment, is your final
payment until closing.
6 Construction Begins
Once
your down payment is complete, your mortgage is approved, and the
homesite is ready for building, we can start construction. We'll arrange
a customer involvement meeting with your project manager and sales and
marketing representative to familiarize you with the construction
process and discuss what happens next.
7 Go to Closing and Move In
At
this point your home is complete and you'll have a new-home
demonstration meeting with your project manager. A date and time for
closing is set and all final payments are due at this settlement. Once
all the papers are signed, you will receive the keys to your new Ryan
home.
