The purchase of a new home is exciting. Home is the place where you’ll spend most of your time and enjoy your loved ones.
The experience of buying a new home can be a little daunting, especially if you haven’t done it before. At Landon Homes, we have a process that is easy to understand. We have experts that include highly informative sales teams, award winning designers and top-notch construction managers that guide you along the way to becoming the owner of a beautiful new Landon or John R Landon Home.
A Preview of the Process
The process you’ll experience is very systematic, and includes these major events:
Our homebuyers are encouraged to use our preferred lender, Cinch Funding for financing their new home. In addition to having unmatched knowledge on our homes and communities, Cinch Funding is able to offer Landon Homes and John R. Landon Homes buyers with preferred customer discounts through aggressive pricing rates and fees.
1. How are interest rates determined?
To determine a borrower’s interest rate and achieve the best possible loan terms, lenders primarily evaluate three criteria. First, the Credit Rating is paramount, with the credit score being the most crucial aspect; lenders also scrutinize payment history for late payment occurrences in the last two years. Second, Debt-to-Income Ratios are calculated by reviewing the borrower’s gross monthly income against their non-utility monthly obligations to find the Front-End Ratio (housing payment divided by income) and the Back-End Ratio (total debt divided by income); for a standard “Grade A” loan, these are typically targeted to be below 28% and 36%, respectively. Third, the Down Payment amount is factored in, as a smaller initial payment represents higher risk to the lender and consequently leads to a higher interest rate for the borrower, sometimes a difference of 0.5% even with perfect credit.
Cinch Funding is able to provide additional details on lenders who accept 0% down payment loans. After a lender has considered the three points described above, the borrower’s application must pass the specifications set by an underwriting department for the loan to be approved.
2. What are discount points?
Discount points are used to lower the interest rate. The discount fee is normally charged as a line item on your HUD or settlement statement at the time of closing.
3. How much should my closing costs be?
Closing costs may vary depending on the type of loan. Typical closing costs will include:
4. What is the purpose of a credit report?
Loan officers pull your credit report from Equifax, Experian, and TransUnion to review your account history and obtain your credit score, which is essential for determining the best loan program.
5. What is the difference between Conventional and FHA loans?
The primary difference between a Conventional loan and an FHA loan lies in their backing and requirements: Conventional loans are not government-insured and are best suited for borrowers with strong credit and larger down payments, offering the significant advantage of allowing private mortgage insurance (PMI) to be canceled once 20% equity is reached. FHA loans, however, are insured by the Federal Housing Administration (FHA) and are designed to help borrowers with lower credit scores or smaller savings access homeownership with a minimum 3.5% down payment, but this benefit comes with mandatory mortgage insurance premium (MIP) that typically remains for the life of the loan unless a 10% or greater down payment is made, in which case it lasts for 11 years.
Our state-of-the-art Design Facility is available for Landon, John R. Landon, and Lifestyle Homes buyers. It provides a creative environment to explore and visualize materials, products, and colors firsthand, helping you realize your new home’s full design potential. Buyers are paired with a professional design consultant who will guide and advise them through every selection for every room.
Arriving at your design gallery appointment with a clear sense of your personal taste and style ensures a truly engaging and rewarding experience. With hundreds of exquisite items, patterns, and finishes available, it’s impossible to explore every option in a single visit—so we encourage you to bring samples or references that reflect the elements you wish to incorporate into your new home.
Curating inspiration from platforms like Pinterest or Houzz, as well as from photographs, books, or magazines, is an excellent way to discover the textures, colors, and designs that resonate with you on an emotional level, helping to shape a home that is distinctly yours.
Following the completion of your structural meeting with your sales team, your documentation—detailing the specifications and plans for your home—will be forwarded to the Landon Homes corporate office. Please allow up to five business days for these materials to be reviewed and approved before your design appointments can be scheduled.
Once approved, your finalized documents will be sent to The Design Gallery. The gallery team will reach out to you directly to arrange your appointments. Appointment details will also be communicated via e-mail to both you and your sales team, ensuring everyone is informed. Depending on your community, you will be allocated a set number of sessions with our design professionals, providing the guidance needed to bring your vision to life.
2801 E. Highway 121, The Colony, TX 75056
Take Sam Rayburn Tollway to TX-121, exit towards Standridge Dr/ Castle Hills Drive from Sam Rayburn Tollway. Go North on Standridge, The Design Gallery is on your left.
Regardless of your prior experience with homebuilding, the construction process can present intricate details and considerations. At Landon Homes, we are dedicated to making this journey as seamless and enjoyable as possible. This guide has been designed to familiarize you with each stage of the process, providing clarity and confidence as your home takes shape. From groundbreaking to move-in ready, we transform your vision into reality in ten thoughtfully planned steps.
The on-site sales managers are here to assist you with your home purchase by guiding you through the process and answering questions along the way. They will help you find the right home and location based on your wants and needs. Therefore, your sales manager will be your guide and make suggestions along the way from your initial home search to the contract process, through the construction of your home until the day you close on your home and hand you your new keys.
Landon Homes and the Design Gallery have partnered up to provide you with extensive choices in the newest trends of interior finishes. Conveniently located off 121 in The Colony, The Design Gallery not only showcases all the available options, but they also provide professional designers to assist you in achieving your aesthetic goals by communicating your tastes, cultures, and values. Your assigned designer will reach out to you to set an appointment once all of your paperwork is finalized.
The entire build process may take from 6-8 months from start to finish. If you are looking to move quicker than this, please visit our quick move-in homes page and see what inventory homes may be available in the community of your choice.
Great! Now that you have found the plan that you love, let us get you in touch with the on-site sales manager to start the process. You can use our Live Chat feature to chat with our team or call/text our sales and information line at 469-804-5534 to determine the neighborhood this plan is offered in so you can choose your new home site.
Landon Homes offers various incentives for our buyers unique to each community and neighborhood. Our online sales team is available via email, phone, or text to guide you through our incentive program.
Landon Homes takes a great interest in being ahead of the building curve when it comes to energy efficiency. Therefore, we strive to make your home as comfortable as it is beautiful and cost-efficient for you in years to come. Our homes exceed the energy star program, and we use above industry-standard components while constructing our homes to help you save month after month on your energy bills.
We have designed plans to fit on different homesite sizes throughout our neighborhoods according to city and community regulations. It is our goal to maximize the square footage of the home as well as the yard size for each lot. This means the plan mix for every community was carefully chosen to establish an aesthetically pleasing appearance of the streetscape and achieve a well-manicured look.
No. You may choose to find your own lender. By using Landon Homes preferred lender, you get the opportunity to work with knowledgeable lenders who have worked with Landon Homes for years. They will explain the entire mortgage process, show you all of your financial options, and make sure you find a deal that meets your personal needs.
Landon Homes offers home warranty though a third party; StrucSure. Landon Homes warranty covers one-year workmanship and materials, two-year delivery portion of systems, and ten-year major structural defects. You can find more detailed information by visiting our homeowner resources page.
For existing homeowners, please visit our homeowner resources page to complete a warranty request.
All home warranties can be transferred to the new homeowner. This is because home warranties are made through the home address and not the buyer’s name. When you close on your home, each homeowner will receive a warranty certificate. If you cannot find this, you can contact StrucSure directly.
4050 West Park Blvd. | Plano, TX 75093
Office: 469-804-5534 | Fax: 214-619-1098
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