Financing Your New-Construction Home

Understanding the mortgage process is a crucial step in the journey to purchasing a home—but without a background in finance or strong knowledge of the industry, you might feel a little bit lost. Logan Homes and our preferred lenders want to make the mortgage loan process easier on our buyers, so we’re here to help put your mind at ease and get you excited for the process of purchasing your next home. 

When should I start the mortgage process? 

If you’re serious about buying a new-construction home in North Carolina, South Carolina or Georgia, there’s a few different ways to start the process. Perhaps you’re ready to start touring homes and are looking for a reliable source to give a ballpark estimate of how much home you’re able to afford. While many websites offer free mortgage calculators, it’s best to get a more accurate estimate from a lending professional. Most mortgage lenders offer a free prequalification, which uses your financial information to get a general estimate of the loans you’ll qualify for. 

After touring our model homes and falling in love with one of Logan Homes’ expertly designed communities, you’re probably ready to choose your homesite and ideal floor plan. Before you can go to contract, a preapproval letter (different from the prequalification) or proof of funds is required—this helps homeowners and our team know the exact budget we’re working with and ensures all of the available options are on the table. 

What are some tips for the mortgage process? 

Obtaining a mortgage loan is a lot easier when you’re more prepared, which is why we’ve gathered a few tips to know before and during the homebuying process. 

• Have all supporting documents easily accessible, including W-2s, tax returns, bank statements, pay stubs and assets. 
• Try not to shake up your finances during the process. Wait until after closing to open any new account or credit cards—as these can impact your credit score and loan approval. 
• It’s generally suggested to not make any large purchases during the home loan process, including purchasing or leasing a car. 
• Work with a mortgage professional you can trust. Having an open line of communication makes the journey from preapproval to closing as stress-free as possible. 

Can I use any lender to get a mortgage? 

While Logan Homes is happy to work with homeowners and their chosen lender, we’ve selected preferred lenders to streamline the process and make it simpler for our buyers. These lenders know our staff, our process and our brand—meaning they share the same goals of providing exceptional customer service.  

How can I start my journey toward owning a Logan home? 

If you’re looking for your next home or are becoming a homeowner for the very first time, the team of experts at Logan Homes is here to help. We can provide you with information on specific markets, areas of town, communities, floor plans, available inventory and more. Once you’re ready, contact us online or call or text us at 910-507-2115 to speak with our Online Concierge team to start your home buying journey. We look forward to bringing your dreams of coastal lifestyle in a new home to reality, as we have for thousands of other homeowners since 1986.