testimonial snapshot
All the people at NVR Charlotte were extremely helpful and courteous (Southern Hospitality!!). They took on a very personal approach in addressing my questions and following up to assure my satisfaction
- Dennis G., Charlotte, NC


Very prompt/helpfull. Answered many questions quickly and clearly
- Andrey S., Greenville, SC


Was the best experience I have had regarding the purchase of a home.
- Jonathan W., Charlotte, NC

FAQ

What does a mortgage company consider when reviewing a loan application?
There are several factors that are considered including:

  • Employment history and income
  • Assets
  • Credit history
  • Value of the home that you wish to purchase


Which mortgage is right for me?
NVR Mortgage offers several types of loan programs to meet your specific needs including:

  • Fixed Rate Mortgage – The interest rate and monthly payment will remain the same throughout the life of the loan.
  • Adjustable Rate Mortgage – The interest rate and monthly payment will fluctuate over the life of the loan.
  • FHA Mortgage – The loan is insured by the Federal Housing Authority (FHA) and allows you to purchase a home with a down payment as low as 3.5% of the purchase price.
  • VA Mortgage – You may be eligible for a VA loan if you are currently in the United States military or if you have ever served in the United States Armed Forces. A VA mortgage allows you to purchase a home will little or no down payment.


What documentation will I need to provide in order to get my loan approved?
Make sure to have the following documentation available to give to your loan officer at the loan application appointment. Your financial situation is unique and there may be additional documentation required to process your loan. Your loan officer or loan specialist will advise you of all required items.
To process your mortgage application, you will need to provide copies of the following:

  • Most recent pay stub(s) covering a 30-day period for each borrower
  • Most recent two years W-2’s and/or 1099’s for each borrower
  • Most recent two years Federal tax returns for each borrower (all schedules)
  • Two months of most current and consecutive bank/investment/retirement statements on all accounts
  • Complete bankruptcy papers with all schedules and discharge papers (if applicable)
  • Complete divorce decree/separation agreement/child support court documents (if applicable)


What is the next step after I meet a loan officer for the loan application appointment?
Once you have sent in all requested documentation we will begin processing your loan and preparing it for submission to underwriting. You will be contacted by your assigned loan specialist once your loan is approved or if we need additional information. Your loan officer and loan specialist will work as a team throughout the loan process.

How can I check the status of my loan?
You can check the status of your loan at any time by contacting your loan officer or loan specialist.

When can I lock in the interest rate on my loan?
You can lock at no additional charge 45-60 days from your settlement. We recommend that you contact your loan officer when you have your pre-drywall walk-through. Locking takes place 11am – 4pm, Monday – Friday. Extended locks are available on some programs (for additional fees). Please ask your loan officer for details.

Are your interest rates published daily?
Our interest rates are not available on a public website. If you are interested in the interest rates on your loan, please contact your loan officer.

When is the pre-drywall walk-through? When is my closing?
Your Project Manager will have the best estimates for these dates. Your closing (or settlement) will be scheduled by Ryan Homes or NV Homes. You will go to closing when your home is 100% complete.

Who should I contact if I want to change my closing date?
Contact your Sales and Marketing Representative or Project Manager.

Why do I need to give you updated documents before closing?
Before your home is started the builder wants to know that you are qualified for the purchase. NVR Mortgage will fully approve your loan prior to construction. This initial approval will most likely expire and we will need to update your financial documentation closer to your settlement date. If your initial approval expires we will need to request updated income and assets verification such as pay stubs and bank statements. About 60 days before closing we will collect all up-to-date documentation that is required for your loan to be re-approved.

Who should I make settlement checks out to, and when will I get the amount due?
You will need to bring a certified or cashiers check made out to NVR Settlement Services. A preliminary HUD-1 Settlement Statement will be prepared for you approximately one week prior to your settlement. Once this preliminary HUD is prepared a representative in our closing department will contact you and send you a copy to review.

What should I do if I want to purchase/finance a new car or new furniture before I go to settlement?
Talk to your loan officer before making any large purchases (even if it’s 0% financing for a period of time). The monthly payments on any new debt may affect your debt ratios for your new home loan.

What should I do if I want to change jobs before I go to settlement?
Talk to your loan officer if you are thinking about changing jobs prior to settlement. This could adversely affect your loan approval.

Who should my insurance company contact regarding hazard insurance?
Have your insurance provider contact your loan specialist at least 2 weeks prior to settlement.