Here are just a few of the questions buyers have been asking us and some quick answers to help us keep the conversation going on your purchase at Mosaic at Layton Lakes.
A common misconception is that buyers must have a substantial down payment to purchase a new home. Today’s reality is that a variety of programs exist to help buyers reduce the down payment amount and, in some circumstances, depending on available programs and subject to qualification, buyers may even be able to put $0 down!
HOA stands for “Homeowners Association”. In residential communities with an HOA, owners are required to pay a monthly fee to the HOA to cover costs including the cost of short and long term upkeep for common areas and services such as streets, parks, landscaping and community recreation centers. Mosaic's HOA fee will average $265 per month and Layton Lakes Master Association fee is $289 per quarter. These costs can vary. Please call our Homebuying Counselor for additional information.
A good credit score does help with qualifying for a home loan. However, if your credit score isn’t where you want it to be, you may still be able to purchase a home. Lenders work with buyers at all levels of credit score and, if you have some time before you purchase, you can take certain actions now that may improve your credit score by the time you are ready to purchase. You can also have a trusted family member or friend co-sign on the loan to make the process easier.
If you are ready to pre-qualify or have questions about the process, our preferred lending partners are FBC Mortgage and Wells Fargo. To contact our Loan Consultants, please email Jon Mount at firstname.lastname@example.org or Tekla Shive at email@example.com. Please note that pre-qualification is only a preliminary qualification based on limited information and you will have to go through a more detailed qualification process to obtain final loan approval.
The term “property taxes” actually includes a variety of different taxes and assessments charged against real property including, but not limited to a tax on the value of the property, various fees and costs of maintenance of certain public facilities assessments, and Mello-Roos special taxes.
All homes at Mosaic are subject to a combined primary and secondary property tax rate of $11.3623 per $100.00 assessed valuation. A special tax notice describing the districts and related special taxes is available in the sales office.
Depending on the amount of down payment and loan terms, mortgage payments at Mosaic may be comparable to monthly rent for a three bedroom residence in the Gilbert area. Also, there may be tax advantages to home ownership to consider. Contact your CPA (Certified Public Accountant) to learn more!
Reach out to our Homebuying Counselor Justyna Korczynski at Mosaic@NWHM.com.
All of the above information is subject to the terms, conditions and disclosures found at MosaicNWHM.com. Please visit this website, and its terms and conditions, and review carefully.