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Summer Sales Promotion

Categories: Blog, Cary, Clayton, Holly Springs, Home Buying Tips, Home Owner Tips, In The News, Knightdale, Mattamy Homes, NC, New Homes, New Homes in Fuquay-Varina, New Homes in Raleigh, Raleigh New Homes, Rockbridge, Royal Oaks Communities, Royal Oaks Homes, Shopping, Smart Homes, Uncategorized, Wendell Falls | Posted: August 16, 2019

There is no substitute for a Mattamy home! Take advantage of incredible savings during our Summer Sales Promotion and make one your own!

Contracts dated 8-15-19 through 8-31-19 on Homes to Be Built in the following Communities will receive $5,000 toward Design or Structural Options, plus an additional $4,000 in Closing Costs when you use Mattamy Home Funding.

Ballentine Place

Bedford at Flowers Plantation 

Bent Tree

Fairview Park

Holland Station

Oak Park

Portofino

Rockbridge

Southern Acres

Wendell Falls

 

Contracts dated 8-15-19 through 8-31-19 on Homes to Be Built in the following Communities will receive $2,500 toward Design or Structural Options, plus an additional $4,000 in Closing Costs when you use Mattamy Home Funding.

Bristol

Ramsgate

Contact your New Home Specialist or call us at (888) 677-1502 for details. Terms and Restrictions apply. Promotion ends 8-31-19.

 

Offer is limited to individuals that purchase their home directly from Mattamy Homes. Offer available on homes to be built if buyer signs and delivers a home purchase agreement between 8-15-19 and 8-31-19. Home purchase agreements signed and delivered prior to 8-15-19 are excluded. Offers, incentives and seller contributions are subject to certain terms, conditions and restrictions, which may include use of designated lenders and closing agents. Certain incentives could affect the loan amount. Offer good for a limited time only. Mattamy reserves the right to change or withdraw any offer at any time. Prices subject to change without notice. Contact a Mattamy Home Funding LLC Loan Officer for financing details, or a Mattamy Homes New Home Counselor for home purchase details. 

What NOT to do Before Buying a Home

Categories: Home Buying Tips, Home Owner Tips, In The News, New Homes in Fayetteville, New Homes in Raleigh, Royal Oaks Homes, Shopping | Posted: March 20, 2014

piggy bank

Now that you are pre-approved for a mortgage and under contract for a new home it’s time to start buying your dream furniture, right? Wrong. Remember, pre-approval is not approval. Pre-approval is just the beginning and according to Credit.com, your lender can change his or her mind if they start seeing you commit one or all of the practices listed below. Be mindful of these five things when you start searching for homes. Your lender wants you to get into your new home as much as you do so make the process as easy as possible for them by avoiding these missteps!

1) Use a Lot of Credit

Now that you have almost secured a new home, it’s time to think smart with your finances. Do not go shopping for a new living room set for your new dream home. Don’t buy a new car, a boat or anything else considered a major expense. This type of credit action can negatively affect your monthly debt-to-income ratio and portray you as a bad candidate for a loan. Be smart and wait until after your loan closes before you start spending!

2) Move Money Around

You need your bank account to stay pretty consistent between the time a lender looks at your most recent bank statement (during the pre-approval process) and again during the underwriting process when they look at your assets and bank records. Unusual withdrawals and deposits, especially if undocumented, will raise red flags for lenders. If you have a gift fund make sure you fill out a gift-letter document to prove that an appropriate source gave you the money (friend, relative, significant other). The letter basically states that so -and-so is giving you money to be applied to the buying of the home and that the recipient does not need to repay the donor. This paper trail helps discern that the contribution is not disguised as a loan, in which case you would be lying about your debt burden.

3) Pay Bills Late

Payment history accounts for about a third of your overall credit score. A late payment will affect your credit report adversely and can knock your score down quite a few points, especially if it is a 30-day late payment. If you don’t think that this is a huge deal (especially if you have a fantastic credit score) think about it this way: if this late payment is for rent or mortgage, most lenders will throw your application right out. In fact, many lenders will require 12 consecutive months of on-time payments before considering your application.

4) Co-Sign a Loan

When you co-sign a loan, it means you are financially responsible in the event that the borrow can not pay. You may be co-signing with a super responsible friend, relative, colleague but that does not erase the fact that you could still have to pay their debt; at least, this is how lenders will look at it. Lenders will factor in this new financial obligation which can negatively affect your debt-to-income ratio.

5) Change Employment

When you change careers or positions, lenders will be looking at a few things. (A) Are you entering an entirely new field?  (B) Are you switching to a commission-based income? (C) Are you starting your own business? These questions may raise red flags for lenders because you could (A) not do well in this new field and quit/get fired, (B) not make a lot of commission, and (C) not thrive at your own business. To lenders, you might not seem like the best candidate for a loan because you are not showing a consistency in your financial stability that they want to see continued.