Monday, June 30, 2014

Approved by NVR

Well that was pretty painless. In under a week I was just contacted that we're approved. So now just have to know when our hole will get dug. Also the "conditions" I have to meet are super easy. They just need new bank statements and proof some debts are paid off. There was one miscommunication I had with them, and between the 2 Loan Officers and an email and one phonecall, all was right in under 5 minutes. 

Friday, June 27, 2014

NVR vs. Wells Fargo

Shortly should be getting my new GFE from NVR. My Loan Officer from Wells Fargo said he's confident he can easily beat anything NVR offers, so we shall see. Once I get my new NVR GFE I'm going to send it to Wells Fargo and see what they can do. And then if Wells Fargo beats, I'll see how NVR responds. We're only tied into $6000 of incentives by using NVR. The rest of our discounts were not dependent. So I'll give updates to see how this showdown goes.

Thursday, June 26, 2014

Naples Floorplan

Here is the floor plan we went with. We had to go with the reverse plan to fit on our lot. Added morning room, gourmet island, stone fireplace, upgraded master bath, 3 car garage (I couldn't add it on the Interactive Floorplan because it doesn't play nice with an iPad).

NVR, so far still pleased

So far the communication from NVR continues to be very good. I was informed I was just sent to Underwriting and should hear back in 1-3 days. I was also informed on what additional paperwork they will need, and it's very minor. Just will need my latest statement, when it is available, from stocks I cashed in. Will also need the HUD form for when the house we're selling closes. Well that couldn't be easier. Also when I have written an email, I have typically had them reply in under 1-2 hours. Hope this is the way the process remains. The biggest horror stories of the whole process I have read about building with Ryan has been NVR. So far this has been the easiest portion, hope this continues. The Chicago office appears to have their act together.

Wednesday, June 25, 2014


So NVR just called and said we should have the approval within one to two business days! I know I have read that many people have had several issues with them, but we have had nothing but good experiences this far. I have to say I am feeling very grateful and blessed.


Tuesday, June 24, 2014

Small sample of our selections

I'm sure Bridget will go into more detail, but here's a small sample of our choices.

Exterior: Front full brick - Boral Falls Canyon. Sides Hardiboard Khaki color and almond trim. Brown shutters and door will be painted "Outer space".

Interior: Whole first floor Armstrong hand scraped deep java (level B)
Bathroom tile went grey based. (Level C)
Carpet: mid level pad and level 2 carpet, color Slivered Almond.
Cabinets: White Rushmore
Countertops: Some laminate. Lol. We will be doing aftermarket granite because we will be saving about $2000 aftermarket. Probably go with Azul Platino which we put in this picture.

Overall we only went slightly over our original budget. The biggest cost was upgrading to the hand scraped, but to do the whole first floor was "only" an extra $1800. But I figure it's money well spent since it would cost more to rip up and replace later ourselves. far, so good

So far things have gone smooth with NVR, but I'm still waiting for full approval. Amy W. is my Loan Officer and she has been VERY timely and responsive. So far all the horror stories I have read have not happened, but I know we're early in the game.

On the positive side for us is that we'll be very easy people to approve. My job is stable with consistent pay to report. No other crazy financial circumstances, and once our current house closes and the sale is complete, we'll be credit card debt free. My FICO is currently good, but I expect at least a 50+ point jump once all debt is paid. So currently I was quoted 4.5% for a 30 year conventional loan which I'm not thrilled with, but once I go above 720 FICO, it will then drop. 

My word of advice is I have every document they need on PDF. From W-2's, to tax returns, bank statements and pay stubs. I don't believe in old school copies and faxes. This way Amy W. has the forms and can shoot them off to whoever needs them. And if by chance something is lost, I can resend it in a matter of minutes. 

I'm also getting another quote from another mortgage company so I have something to compare NVR to. So far the Good Faith Estimate doesn't seem out of line. 

I'll report on whatever good or bad I experience. The only thing I'm anticipating is the approval going slower than some places. But so far Amy W. has been top notch. 

So in under 2 weeks we give them the remainder of the 5% down and by then hopefully approved. When that happens, ground will get broken!

Our voyage so far.

As you already know we are building the Naples model. Before finally settling on the Naples we went back and forth between the Rome (too big), the Milan(too small), and the Naples(just right). When we first visited Ryan there was not much by way of incentives so we decided to play the waiting game. I am SO GLAD we did. 

The first incentives offered were: 

-$5000 total off incentives

Now, all of you who have built with Ryan basically know that this takes care of a cabinet upgrade, a few can lights, and crown moulding on your cabinets. We decided to walk away at that time and see what the following months held. This also gave us time to visit resales and other developments. 

Fast forward to June and these were our incentives:

-Elevation B with a FULL brick front. 

-Free morning room.

OK! Where do we sign!?! The full brick front was really what sealed the deal. They do use Hardi Board siding in our community but I did not want a full siding house. 

These are the options we went with. We did not do a ton of cosmetic changes because Ryan is slightly insanely priced. 

-Naples elevation B with full brick front

-Morning room (14,995)

-Additional windows in morning room ($990)

-3 car garage (10,995)

-3 piece rough in basement (1,595)

-Kitchen gourmet island (2.495)

-Kitchen cabinet upgrade (3,195)

-Cabinet crown moulding (595)

-Appliance upgrade to SS (this originally was 2,195, it ended up being much cheaper) (595)

-Gas fireplace with stone (6,990)

-Master bath upgrade with soaking tub/separate shower (4,495)

-Vanity cabinet upgrade in both bathrooms (1,190)

-Metal balusters (1,695)

-Humidifier (995)

-lighting, procom, and ceiling fans (4,000)

So far that is where we are with Ryan. I hope these prices help someone out. I know when we initially started looking at Ryan I could not find many lists. Next my husband will jump on and talk about NVR so far! 

Thanks for reading!

Here goes nothing!


My name is Bridget, and my husband is Jim. We are in our thirties and have an 18 month old! We currently live in an older home that we remodeled completely. Problem is it is only 1369 square feet. Since our daughter came along we are out of space. Long story very short we stumbled upon the Shorewood Towne Center Ryan development and just loved it. We met with the sales rep there a few days later to do some figures and numbers. We then visited a few resales, and also another subdivision but ultimately decided Ryan was the way we wanted to go!

Now to sell our house...

Well that only took 2 days...

So as of July 16th we close on our current house. We signed papers with Ryan on June 14th.  We will be moving in with family for the time being until our home is completed.

That's our story to start! We have decided to build the Naples plan. It is really the plan that fit our needs, and the price allowed us to do the upgrades we liked. Either Jim or myself will update as to where we are in the process. We just signed the "no changes, final sale" papers yesterday. We were two weeks ahead of time but we want to be in the house by Christmas!

We will catch everyone up to speed shortly!

Naples... Here we come!