|
Builder Program |
- Builder must use a lender that has been approved
by Family Home Providers, Inc.
- The subdivisions/homes must meet FHA guidelines
and be approved for FHA loans.
- Builder must meet all state and county codes
in construction.
- Builder should (not required)
give a 1 year limited warranty on the home.
- Builder should give a 2/10 builder's warranty
on every new home.
- Builder must give a certified termite letter
with treatment information at closing.
- Builder may pay reasonable closing costs.
- Builder MUST sign the "SELLERS/BUILDER'S
PARTICIPATING HOME SERVICE AGREEMENT FORM 106".
|
| When all the above
items are satisfied by the builder, Family Home Providers, Inc.
will wire the gift funds requested to the closing agent prior to
closing.
At closing, the builder will pay Family Home Providers, Inc. a service
fee, which is the processing fee plus the gift funds requested and
wired to the closing agent. |
| EXAMPLES
OF FEE CALCULATIONS WITH A 3% GIFT REQUEST |
| $120,000 Final Sales Contract
Price on Home With a 3% Gift of $3,600 Plus a $400 processing fee |
| |
| **The processing fee is
$500 or 1% of the final sales contract price, whichever is less. In
the above example, 1% would be $1,200 so the builder would pay the
lesser of the two which is $500 |
| $40,000 Final Sales Contract
Price on Home With a 3% Gift of $1,200 Plus a 1% processing fee |
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