Getting a mortgage loan need not be too scary, according to Kevin Ruby, Senior Loan Officer with Community Mortgage, a Grant Preferred Lender.

Becoming familiar with the terms, conditions, and requirements and their meanings will optimize
communication and instill confidence throughout the closing period. Kevin recommends the following:

Maintain the Same Financial Picture During the Process

Assessing an accurate profile of your credit and overall fixed financial obligations is crucial to obtaining and
securing a home loan. Not only does Community Mortgage run a credit report upon the start of the home loan
process, but we are required to do so again within three days of closing. So when we say, “No shopping until
after the loan closes”, we mean it. Just one new line of credit, diminished available credit, or late payment on
an existing account can make a difference.

Documentation of Funds/Transfers/Gifts

If you find the need to transfer funds from one account to another, or receive gift funds for down payment
assistance, consult your loan officer for specific guidelines and documentation necessary to provide the
paper trail needed to satisfy underwriting requirements.

Consider the Source ($)

Showing consistency in your financial transactions assists in a loan approval. Avoid surprise deposits or
withdrawals to your accounts that would require further explanation. Up front costs associated with your home
purchase, such as earnest monies and appraisal fees, will be credited on your settlement statement, provided
payment documents (cleared bank checks) and are available prior to closing.

30/60 Cycle

The loan process is based on a 30 to 60 day cycle. Income verification from paystubs is based on the most
recent 30 day cycle and bank statements 60 day cycle. So, if you get pre-qualified for a loan and 60 days later
you purchase a home, expect to furnish updated paystubs and bank statements to complete the file.

IRS

Income accountability takes place by reviewing your paystubs and other proof of income against what IRS tax
transcripts reveal. If there is a discrepancy, further documentation is required.

Appraisal

Once there is a fully executed sales contract in place, ordering an appraisal is the way to obtain a professional
report of property value. It is an upfront cost that can be credited towards your down payment at closing.

Homeowner’s Insurance

Decide who will be providing you with homeowner’s insurance quickly. An accurate cost of your policy is
needed for underwriting, along with your insurance agent’s name and contact information.

Community Mortgage experts will see you through every step of the way.

Connect with a loan officer and discover the Community Mortgage difference. In Touch. On Time. Call 901-759-4400 or visit www.communitymtg.com.

The newest Grant & Co. model home has just opened in Rivercrest – but not before four new families chose this Bartlett neighborhood for their new home in October.
“This neighborhood is a tremendous value in Bartlett,” said John Giovannetti, Grant’s New Home Specialist in Rivercrest. “Grant & Co. has the best value for the investment of anywhere else in Bartlett. With Grant homes in Rivercrest, the new homeowner gets granite countertops, tile and hardwood floors, smooth vaulted ceilings, wrought iron handrails – the things you would expect in homes priced well over the homes we offer here.”
Grant & Co. recently purchased premier homesites in the last phase of this established neighborhood and is offering a choice of home designs priced from the $180’s. These homesites are within walking distance to the 10-acre Rivercrest Park that features a playground, paved walking trail and fenced dog park. Children in Rivercrest attend Rivercrest Elementary, Shadowlawn Middle and Bolton High School.
The location of the newest Grant & Co. neighborhood provides quick access to Hwy. 385, the Millington Naval Base and the Quail Ridge Golf Club.
Grant & Co. chose The Chandler as the featured model home/sales information center in Rivercrest. This 4 bedroom, 3 bath, two story homes includes a large finished playroom, formal dining room, hearth room option, and a fifth bedroom option. All Grant homes feature Frigidaire by Electrolux stainless steel appliances from Cenwood Appliances, Rivertree Hardwood Flooring, F&H Stone Granite and upgraded lighting by Graham’s Lighting. Community Mortgage provides outstanding mortgage finance services.
The Rivercrest model home/information center is open daily and is easy to find. From the west, go east on Old Brownsville from Austin Peay, turn left on Rivercrest Drive; from the south or southeast, go north on Kirby-Whitten from Stage, then left on Old Brownsville, then turn right onto Rivercrest Drive. The model home is on the left right before Rivercrest Drive ends at Rivercrest Park.  For more information, contact John Giovannetti by clicking HERE.

Everyone is always interested in knowing the first steps to buying a new home, but another important factor to consider is the closing. Grant & Company’s preferred closing partner is Memphis Title Company. Here Closing Attorney Mark Miesse explains the process:
The last step in the home buying process is the real estate closing. In other words, the closing is the last step between you and your keys.
Through its attorneys and paralegals, Memphis Title Company is responsible for coordinating the transaction. In advance of the closing, a number of service providers must provide us with information so that the transfer of title takes place in a smooth, orderly and efficient way. Also, we must make sure that certain steps are followed so that you get what you pay for. A search of land records must be done. The insurance company needs to have the homeowners’ policy in place. Home Owners Association dues must be collected and paid. Property taxes must be paid if due. The mortgage company or bank documents need to be prepared and executed. Title Insurance must be in place to protect the parties. A statement of costs must be prepared, and the down payment and expenses of closing must be collected and paid.
At closing, the seller signs documents to transfer title, and the buyer signs documents to create the mortgage. All the documents must be in compliance with the contract, the loan instructions and state and federal law. Nowadays, up to 50 or more documents must be prepared and signed, and in many cases, multiple copies must be signed.
Memphis Title Company has been helping buyers and sellers complete this process for decades. Memphis Title has a trained staff of experienced lawyers and paralegals who want your experience to be a good one, and at the end of each closing, we get the privilege of making it all worthwhile. We get to hand you the keys and tell you “Congratulations”.

Grant & Co. is excited to announce the Grand Opening of the newly furnished model home in Brunswick Farms. Brunswick Farms is located on Hwy. 70 just east of Brunswick Road in the Bartlett Reserve of Shelby County.
Five new Grant homes are now under construction in the newest phase of this established neighborhood of family homes. Priced from the $220’s, these homes include 3,000+ square feet of luxury living with lots of granite, River Tree Hardwood, tile, upgraded lighting by Graham’s Lighting, Moen “WaterSense” faucets, and Frigidaire by Electrolux appliances.
The beautifully furnished model home is open Monday through Saturday from 11 am until 6 pm and Sundays after church until 6 pm. The new model home is one of Grant’s most popular floorplans – The Asheville. The Asheville includes a master suite and additional bedroom downstairs, two bedrooms, a playroom and a children’s den upstairs; a large hearthroom, great room, formal dining room, and covered back porch.
Six other floorplans are also being offered at Brunswick Farms.
Children in Brunswick Farms attend Bon Lin Elementary and Middle and Arlington High School.  Conveniently located on Hwy. 70 between Canada Road and Germantown Road, Brunswick Farms is within minutes to the Cities of Arlington, Bartlett and Lakeland and the Wolfchase shopping/dining area.

For information on the homes in Brunswick Farms, call Grant & Co. Sales Associates John Giovannetti at 901-258-6588 or Sue Elzey at 901-338-6682.