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Benefits of Choosing a Preferred Lender & Why use Ground Work Mortgage

May 30, 2024

Benefits of Choosing the Preferred Lender

McKelvey Homes’ commitment to a positive, smooth, and valuable experience for its customers extends to making certain all needs are cared for, including purchase finance needs. Customers deserve to receive excellent care and value from contract, through construction and up to closing and beyond. Buying a new home can be overwhelming; especially, for first-time buyers, as there are many mortgage lenders, insurance agents and title and escrow closing service providers in the St. Louis market.

Not all mortgage, insurance, and title and escrow companies are equal. Many providers lack the knowledge and expertise required to serve the special needs of new build home buyers. McKelvey Homes has experience with hundreds of mortgage companies and has witnessed which are the best match for its new construction buyers. McKelvey Homes recommends a lender to its customers based on that lender’s proven performance thereby making the selection process easier for customers in a crowded and sometimes confusing marketplace.

Groundwork Mortgage is the preferred lender because of its demonstrated record of providing award-winning service, true cost savings, low rates, and on-time and smooth closings to McKelvey Homes customers. McKelvey Homes recommends Groundwork Mortgage and its local team with confidence because of the company’s specific expertise serving the unique needs of new home buyers. Groundwork Mortgage has the products, programs, and options that McKelvey Homes customers need at any location and any price point. McKelvey Homes observes first-hand how Groundwork Mortgage’s local team makes buying easier for its customers and knows its new home buyers receive the best communication and service with a local provider that is owned and operated here in St. Louis.

As a preferred lender, Groundwork Mortgage knows the specifics of the contract, construction process, delivery timelines, service expectations, pre-closing, and closing procedures for McKelvey Homes and this knowledge and expertise makes buying simpler for customers. Groundwork Mortgage earns its designation as the preferred lender based on its consistent high performance and positive feedback and reviews from satisfied McKelvey Homes customers. When customers choose Groundwork Mortgage they can be confident that they are receiving the very best service at the lowest rates and costs available in the market.

Choosing to work with a preferred lender like Groundwork Mortgage is one of the many ways that McKelvey Homes helps makes certain that the new home buying experience is valuable, smooth, and positive from beginning to end.

Why Groundwork?

  • On time. On Terms. On Budget. With confidence. Groundwork’s local team of licensed professionals are best-in-class when navigating the complexities of residential new construction. We get it. We are new construction experts and we have fun helping you purchase your dream home.
  • Dedicated To Serving New Construction. Groundwork was founded by a former homebuilder to serve the unique needs of new home customers. We work with customers to obtain loan approval in accordance with the homebuilder’s contract requirements and time frame. Our commitment to this process and expertise in new construction is what sets us apart from all other mortgage providers. Groundwork has closed more than $1Billion in mortgage loans for new home customers in the Midwest and been named Mortgage Company of the Year by the Home Builders Association a record six times.
  • Life Is Busy And We Get That. Most New Homes Are Sold Outside Of Traditional “Bankers” Hours. Our team is available to customers when you need us, where you need us. Groundwork’s technology helps you jumpstart the process 24x7x365 even from your mobile device.
  • Options And Value, Key Ingredients To Meet Your Needs. Our powerful lending relationships allow us to deliver true value and savings to new home purchasers. We work locally to engage leading lenders to provide our customers with financial options that meet their unique needs. We deliver the mortgage market to you with special programs and options for new construction buyers.
  • As A Licensed Provider, We Adhere To The Highest Regulatory Standards And Practices. Our team of professionals has over 60 years of new home and mortgage lending experience. Our team delivers solutions the right way with unparalleled professionalism and transparency. The Groundwork difference is proven. The average Groundwork loan closing takes less than 45 minutes. We close fast and smooth.
  • We Live In The Community That We Serve. Groundwork is invested in the St. Louis community. Groundwork has served more than 5,000 new home customers in our community. Groundwork is locally owned and operated right here with our headquarters in St. Louis, Missouri. As a local partner we share our time, talent, and resources with local organizations that support safe and secure housing.
  • GROUNDWORK EMPOWERS CUSTOMERS TO ACHIEVE THEIR NEW HOME PURCHASE ON TIME, ON TERMS, ON BUDGET, AND WITH CONFIDENCE.

Commonly Asked Questions

Do I need a 20% down payment to be approved for a loan?

Groundwork offers loan programs with as little as 10%, 5%, 3% or even 0% down for qualified applicants.

How long does it take to get approval for a loan?

Groundwork is efficient and ready to assist you with all of your mortgage needs. We can pre-qualify you for a loan in as few as 20-minutes.

What documents do I need to provide for the mortgage application?

  • Past 30-days payroll statements
  • Past 2-years W-2s
  • Past 2-years Tax Returns
  • Past 2-months bank statements (i.e., all accounts, checking, savings, retirement, asset accounts)
  • Most recent monthly mortgage statement (e.g., current home)
  • Government I.D. – Drivers License preferred

What are the total closing costs?

  • $2,618.95 (All-In)
  • Underwriting – $1,497 (Start to Finish)
  • Credit Reporting – $200 (Mortgage Report, Application, Pre-Closing Update)
  • Appraisal – $600 (Under Construction)
  • Final Inspection – $200 (Pre-Closing, Construction Complete)
  • Flood Zone Certification – $12 (Engineer’s Certification)
  • Mortgage Electronic Registration Service – $24.95 (National Registry)
  • Real Estate Tax Administration - $85 (Escrow Set-Up, Administration)


YouTube Video Link - Check out video to learn more!

https://youtu.be/j5XKfgvJ5hc?si=7cegOKySpk3FjGDF

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