• Building a new house is a- dream - come-true for most homeowners although new construction can be costly and stressful especially if you are working with a restricted budget. A better way to build is with a modular home from Conyers Country Homes.
  
  
• From the time a buyer has been approved for the construction loan to the final inspection by a local building authority for the certificate of occupancy, a shorter construction phase is required: it can take as little as six weeks to have your house completed and move-in ready. A shorter construction period requires less money.
  
  
• A construction to permanent mortgage product provides financing for the purchase of a modular home on its own lot. The potential homeowner may decide to build a single family, two, three or four family property, depending on the families needs.
  
  
• Usually the homeowner cannot act as the Builder/General Contractor. There are a few lenders that will allow this unless the homeowner can show proof of construction experience, but the norm is to hire a Builder/General Contractor. Conyers Country Homes offers this very important service as we are dealers as well as General Contractors.
  
  
• The very first step to becoming a homeowner is to sit with your lender and get Pre- Approved. This is a very important procedure because your lender will tell you how much house you can actually afford based upon your income which is your ability to repay the debt; credit worthiness by running a credit report to view your credit history; and to verify assets needed to purchase the house of your dreams.
  
  
• When you meet with your lender you may be required to bring the following items with you as the Pre Approval process is your first step towards mortgage application.
  

1.) Two current pay stubs from each borrower.

2.) Two current checking/savings statements to show you have funds available for your down payment,      closing costs, appraisal fee and two-six months of mortgage payments in reserve.

3.) Two current statements for any other investments you want to include on the application such as a      401k, any stocks or mutual funds, etc..

4.) Your last two years W2’s and depending on your job you may have to provide your last two years      complete federal income tax returns.

5.) A written explanation for any gaps in employment, or to explain less than a two year employment history, or to explain any late payments that may show up on your credit report.

Once that has been done, you will have a Pre Approval letter outlining how much of a sales price/loan amount the lender is willing to provide. Present this letter to your Conyers General Contractor and you can begin the construction process.

Together you and Conyers Country Homes can work on a modular home plan that suits your present and future needs, work out all the design details of the finished product, and put together the final floor plans.

Here is what you will need to bring your lender:

• A legal description of the building lot.
  
• A fully executed contract between you and Conyers Country Homes.
  
• A copy of any check for deposits given to Conyers.
  
• A copy of the floor plans, plot plan, building specifications, a cost breakdown and building permit.
  
• Some lenders want to see the builders insurance and license documentation.
  
• You will also need to provide a copy of a Builders Risk Insurance Policy for construction. It will cover any fire, theft or liability associated with the construction. You will purchase this from your insurance agent once you know you have final approval to build.

At this point, your lender will have you sign all the required application documents and will begin processing your loan for final approval. Once you have received final approval in the form of a commitment letter and have met any conditions required to close on your loan, you can schedule the closing in order to begin work on your site.

Conyers Country Homes will order your custom-made modular home, obtain all required permits associated with the project, and construction can begin. As professional General Contractors with modular home experience, Conyers Country Homes is familiar with ordering construction inspections and working with lenders to keep your project on time and moving smoothly getting you closer to your move in date. You are in very capable hands with Conyers. We take care of all the details so you do not have to worry about them.

Our goal at Conyers Country Homes is to make the building of your "dream house" a pleasant and rewarding experience!

(Information on construction financing provided by Ava Colonna, a licensed senior loan officer in Connecticut and Rhode Island and owner of the of the website, No Place Like My House.
Email Ava from her website.)