Buying a new home can simultaneously be exhilarating and challenging experience. To help you understand and anticipate what happens, we’ve broken the process down into seven steps:

Step 1 – Home Ownership: Documentation & Mortgage Consultation

You forward us your Buyer Profile and speak to a Mortgage Consultant. A mortgage application is completed, signed and returned to us with all the requested items needed to begin processing.

Step 2 – Processing

Your application is sent to our Mortgage Processing Center and you are assigned a Mortgage Specialist who processes your application. Your loan decision is made within 10 business days.

Step 3 – Approval

Your Mortgage Specialist contacts you with your loan decision. You are mailed a written Loan Commitment Letter for you to review for the conditions of your approval. To ensure a smooth settlement, complete these conditions as soon as possible.

Step 4 – Construction

Your home is being built. Winchester Homes will notify us of any changes in your sales price. Beware of modifications to your financial situation at this time. Changes in employment or incurring new expenditures may affect the terms of your loan.

Step 5 – Final Adjustments

At the time of your pre-drywall walk through, you will also hear from your Mortgage Specialist who will ask you to confirm your final sales price and loan amount. If you enroll in our Builder Best® program, this is when you can execute your final interest rate floatdown.

Step 6 – Countdown

Thirty days from closing you should select and secure a homeowner’s insurance provider and policy. Your Mortgage Specialist will request from you a paid receipt and declaration page. Your Good Faith Estimate will be updated and you will be given a revised estimate of the cash needed to close. You will need a certified or cashier’s check for this amount at Closing.

Step 7 – Closing

You are now ready to finalize the purchase of your new home. The builder will notify you of the time and location where your settlement will take place. As this could change at any moment, it is critical that we have your latest contact information.