frequently asked questions

Do you have financing options for your new construction homes?

Yes, We offer many different financing options for our new construction homes. They include: 100% VA financing, 97.5% FHA financing, 95%, 90% or 80% Conventional Financing, and 65% Foreign National Financing.

 

Are there specific banks you use for each of the specific loan programs?

Yes, the type of loan you are seeking will determine the bank we refer you to. Each bank has their own specific programs they offer.

 

Why do you offer “allowances” in your contract for fill, site work and permit and impact fees?

Each lot location is unique in its elevation, clearing, site work requirements and permitting and impact fee costs. We offer allowances so our advertised prices are more accurate to what your specific lot location needs will be.

 

What is a lot inspection and when do you do it?

Lot inspections are unique to Sposen Homes, we perform them PRIOR to your contract and they allow us to adjust the contract allowances for fill, clearing, site work, permit and impact fees.

 

How long does it take you to build a house?

From the time we receive a permit it takes approximately 6-8 months to construct a home.

 

What are some things that can delay the construction of my home?

There are many things that may cause a delay in the construction of a home, some of the more common things are weather, supply shortages and labor shortages.

 

How do I know what my house comes with?

In our house contracts we include three addendum’s which will clearly outline everything that your house is fitted with. First, the standard features, model and floor plan – this is the starting point and shows exactly what comes with your house as a “standard”. It will also show the floor plan and front elevation you choose. Next, is the upgrade addendum, this shows all of the upgrades you selected. Your upgrades will overrule anything that is found on your standard features sheet. Finally the pool addendum, this will show if you selected a pool or not and if so, what pool design and features you choose.

 

Why do you offer the 3 different finish levels of express, signature or sterling?

The features of a home have a direct bearing on the price. It is in our core beliefs to deliver high quality and value.  By offering our floor plans in different finish levels it allows us better flexibility with our pricing.

 

You offer a closing cost credit, what is that for and how is it calculated?

The closing cost credit is a very unique offering from Sposen Homes, we offer up to 2% of the base price of the home as a concession towards your closing costs when you choose our preferred mortgage and title solutions. The closing cost credit is calculated by taking the base price of the home and subtracting the allowances for fill, clearing, site work, permit and impact fees and multiplying that by 2%. This is offered when you  opt to use our preferred mortgage and title solutions.