Mosaic at Layton Lakes Home Buying FAQ

First Time Buyer FAQ
Invest in Your Future
Build Equity & Credit
Predictable Expenses
Build Your Savings
Mortgages Are Manageable
the fundamentals of your new home purchase
Buying a home is the most significant purchase most of us will ever make – which makes just starting the process a daunting undertaking at times.

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.
How much money do I need to save for a down payment?

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!

What’s an HOA and why do I pay for it?

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.

Layton Lakes Master Association fee is $291 per quarter. These fees include maintenance for and use of all recreational amenities in the Layton Lakes master community.

Mosaic’s sub association fees (including the benefited assessment) will average $270 for The Flats, $300 for The Towns and $225 The Rows.

These fees include maintenance for and use of all recreational amenities, landscaping, exterior building maintenance, water, sewer, trash and natural gas within the gated community.

These costs can vary. Please call our Homebuying Counselor for additional information.

How good does my credit score need to be to be approved for a loan?

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.

Who should I reach out to to become pre-qualified to purchase?

If you are ready to pre-qualify or have questions about the process, our preferred lending partners are Wells Fargo Home Mortgage and FBC Mortgage, LLC. To contact our Loan Consultants, please email Jason McKnight (NMLSR ID 404019) at or Jon Mount (NMLS 155371) at 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.

What are property taxes, and what is Mello-Roos?

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.

The combined primary and secondary property tax rate
for this subdivision for the year 2020 is $11.2207 per $100.00 assessed valuation.

Will mortgage payments be much more than my rent?

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 or (480) 708-8328.

All of the above information is subject to the terms, conditions and disclosures found at Please visit this website, and its terms and conditions, and review carefully.