Centella in Estrella Home Buying FAQ

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 Centella at Estrella.

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. Centella's HOA fee will average $63 per month and Estrella’s Master Association assessment is $333 per quarter. 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 FBC Mortgage, LLC and Wells Fargo Home Mortgage. To contact our Loan Consultants, please email Ryan Negrete (NMLS ID 152859) at RNegrete@fbchomeloans.com or Tekla Shive (NMLSR ID 420647) at tekla@wellsfargo.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.

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.

All homes at Centella have an assessed valuation of $12.311 per $100. There is also a Special District Tax for the Estrella Mountain Ranch Community Facilities District (CFD) and a CFD Special Assessment Area that includes Centella. The estimated annual CFD tax for a $350,000 house at Centella is approximately $936.

Will mortgage payments be much more than my rent?

Depending on the amount of down payment and loan terms, mortgage payments at Centella may be comparable to monthly rent for a three bedroom residence in the Goodyear area. Also, there may be tax advantages to home ownership to consider. Contact your CPA (Certified Public Accountant) to learn more!

HAVE MORE QUESTIONS?

Reach out to our Homebuying Counselor Justyna Korczynski at Centella@NWHM.com or (480) 708-8328.

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