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Prequalify for a Loan

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					   Financing Your Barden Home
The Responsible Parties

                                    • “The Robar Ten Step”
                      Robar
                                         – Ten Steps to financing your
                                           new Barden Home with Robar
                     Dealer                General Funding Corp.


                     You


    Robar General Funding Corp. is located at 6308 Boston State Rd., Hamburg, NY 14075
        Our toll free number is 1-888-997-6227 and our fax number is 716-648-2101.
                              Step One
                            • Robar will prequalify you for a
                              maximum loan amount based on
Whose Responsibility?         your income and your debt.
                                  – This can be done with a phone call to the
Robar




                                    Robar offices or the completion and
                                    forwarding of an authorization form to the
                                    Robar offices. (This authorization form is
                                    attached for your review, use and records.)

                                  – This prequalification includes a review of
                                    an infile credit report** which allows us to
                                    quote an interest rate range and other
                                    pertinent terms.
             **An infile credit report is a “snapshot” of your credit profile
                   and may not provide enough credit information.
                            Step Two

                               • Robar will provide you and your
Whose Responsibility?            dealer with a mortgage amount
                                 and estimated interest rate based
                                 on the information gathered in
                                 step one.
Robar




                                     – If you are using the $995 out of
                                       pocket program we will estimate
                                       the maximum hard and soft costs
                                       associated with the prequalified
                                       mortgage amount.

           Soft costs refer to fees associated with obtaining a mortgage.
               Hard costs are the true costs for materials and labor.
                                  Step Three

Whose Responsibility?                • You meet with your
                                       independent Barden dealer and
                                       talk preliminary numbers,
                                       plans, ideas and dreams.
You




                                          – The goal here is to at the very
                                            least make sure that the loan
                         Dealer



                                            amount you have been
                                            prequalified for is going to be
                                            enough to do what you want.


         There is a difference between what you qualify for and what you can afford,
 Robar can only give the prequal amount, your comfort level is what you deem you can afford.
                                Step Four

                                       • You formally apply for
  Whose Responsibility?                  the permanent mortgage.
                                             – By sending in the
                                               information from the
  You




                                               “123” sheet (see attached),
                                               Robar can get you
                                               approved in as little as
                                               23.5 hours.

The information on the “123 sheet” is purposely general, each transaction may require specific
                    items that will be addressed after the prequalification.
                   Not in the Ten Step
                    But important nonetheless


   Whose Responsibility?                       • By this stage you
                                                 have probably
                                                 already ordered
Dealer




                                                 your preliminary
                                                 prints from Barden


          Robar General Funding Corp., 6308 Boston State Rd., Hamburg, NY 14075
     Licensed mortgage broker and/or lender in: NY, PA, MA, IN, MI, OH, IL, MN, WI, TN
                                   Step Five
                                 • With the permanent loan approval
                                   a commitment is issued and your
Whose Responsibility?              loan is now ready for an appraisal.
                                       – It is important to note that in order for
                                         us to do an appraisal you will need to
Robar




                                         have some land under contract,
                                         already in your name or plan on
                                         having it gifted to you. You will
                                         more than likely have done so but a
                                         quick reminder is never harmful.



        The appraisal is completed based on the plans, specification and lot location.
                                      Step Six

                                 • Robar will notify you and your
Whose Responsibility?              dealer of the approval. We will
                                   ask that the dealer contact us
                                   once he is ready for us to order
                                   the appraisal.
Robar




                                       – We will order immediately upon
                                         notification by the dealer…of
                                         course, feel free to contact us
                                         directly if you so wish.


This space has no information in it like the others, We are just seeing if you are paying attention!!!
                               Step Seven
                              • With the receipt of the appraisal your file is
                                submitted to the construction lender for
                                approval and commitment.
Whose Responsibility?
                                   – At this time the first phase of your financing has
                                     been completed.
Robar




                                   – The construction lender will now take over the
                                     transaction with a representative contacting you .
                                     The lender will look to review the budget,
                                     address any sweat equity you may be putting into
                                     the deal and answer any questions you may have
                                     regarding the construction loan.

                                   – Robar remains readily available to answer any
                                     questions or concerns you may have.


Milo Corporation is the construction lender most commonly used, their number is 1-800-365-2207
                                  Step Eight

   Whose Responsibility?
                                         • Robar is notified by you or
                                           your dealer when you have
                                           reached the drywall phase of
   Dealer




                                           your new home.
                                               – This stage is our internal comfort
   And/OR                                        zone, based on experience, that
                                                 you are now within a 60 day
               You




                                                 period of closing on your
                                                 permanent loan.



Robar has been financing Barden homes since 1996, our experience is a valuable asset we encourage
                        you to use. Our toll free number is 1-888-997-6227.
                                   Step Nine
                                  • Robar will update your file and
                                    begin the process of readying your
Whose Responsibility?               application for the final closing.
                                           - Robar will contact you with regards
Robar




                                             to the information needed to update
                                             your application package.

                                           - We will also discuss loan amount
                                             adjustments, interest rate options
                                             and other mortgage terms that need
                                             to be finalized before a closing can
                                             occur.

   Updating your file may only require that you supply us with a recent paystub, bank statement,
                            and we will pull an updated credit report.
                                      Step Ten
                                   • Robar arranges with the lender, the
                                     attorneys, and you for a targeted
                                     close date.
 Whose Responsibility?
                                               • A final inspection will be completed by the
                                                 original appraiser to verify that the house
  Robar




                                                 has been completed per the plans and
                                                 specification. This is needed in order to
                                                 schedule your final closing.

                                               • Once the final date is confirmed your final
                                                 closing costs, which may include taxes and
                                                 insurance figures, are calculated and
                                                 reviewed to ensure for accuracy and
                                                 explanations.

Our commitment to service relies on our clients giving us sufficient feedback regarding their experience.
            A follow-up survey is sent to each of our clients immediately upon closing,
                           which we ask for honest answers and comments.

				
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