Financing Your New Home
Mortgage 101 - Mortgage 101
- Lenders
There's a lot to consider when figuring out how to best finance your new DRB home. From initial deposits to monthly payments, you probably have questions about exactly what the mortgage process will entail. While each home is financed differently based on homeowner preference, here is a bit of background information that covers some of our most frequently asked questions.
Do I have to use an approved lender?
It is not required, however we recommend these lenders because they have a history working with DRB Homes and DRB Elevate and understand all the details within our process.
When should I get prequalified?
The earlier you can get prequalified in your new home journey, the better. That way you'll have the most accurate understanding of your budget.
What types of loans are accepted?
Most loans are accepted by DRB, including conventional loans, fixed- and adjustable-rate mortgages, and government issued loans.
How are closing costs handled?
You can lock in interest rates at the start of the process, so you'll know ahead of time what your closing costs will be. This will be paid at closing.