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Frequently Asked Questions

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Allen Edwin Homes has curated our top FAQs across Timeline, Warranty and more!

Financing

  • How much money down do we really need to buy or build a new home?

    At Allen Edwin Homes, our preferred lenders offer mortgage programs with as little as 0% down.   We finance the entire build of your new home with no monthly financing costs to you until your home is completed and no construction draws are taken.  

  • Do we need a Construction Loan to build with Allen Edwin Homes?

    Here at Allen Edwin, we let you take out end loans! End loans start when you move into your home opposed to starting when the construction does and compiling interest throughout the building process. Typically, the main benefits of avoiding construction loans are:

    1. No payments until you close on the home

    2. Lower interest rates throughout the life of the loan

    3. You can own NEW with less money down compared to other builders 


  • What type of financing programs are available?

    Many of the communities we build in have 0% down programs available including RD (USDA Rural Development) loans, VA (Veterans Administration) loans, FHA (Federal Housing Administration) loans beginning at 3.5% as well as conventional loan financing beginning at 3% down.   For a complete list of Preferred Lenders 

  • Will AEH accept a VA loan?

    Yes.   If VA loans are accepted, we will accept .

  • What happens if there is a short appraisal, who is responsible for the difference?

    The short appraisal is the responsibility of the buyer.   This would mean that the buyer would be responsible to do one or more of the following:

    1. Come up with cash to make up the short fall
    2. Change loan programs and order a new appraisal
    3. Change your loan to value to increase the down payment
    4. Remove options if still available to do so.

  • Is it more expensive to buy new construction?

    We’re often asked about our ability to deliver spacious homes with remarkable architectural detail in gorgeous neighborhoods for much less money than others. The answer is simple. Our Homebuilding Smart System increases efficiencies, optimizes material usage, shortens construction times and leads to superior quality homes for less cost. These disciplines make it possible for us to build exceptional homes, provide incomparable service and ensure complete customer satisfaction from day one.

  • What do we do after we’ve made my loan application?

    First, provide any needed information immediately to your mortgage company. It will then be necessary to wait for your loan approval letter (PCF) from your mortgage company. The loan approval letter (PCF) should provide you with a reasonable budget for your home. Upon receipt of the loan approval, the New Home Showroom Coordinator will call you to schedule your Consultation and Final Selection Appointments at the New Home Showroom.

  • If we do not use an approved “preferred” lender what additional responsibilities do we have?

    It will be your responsibility to take a more hands-on approach to ensure that Allen Edwin Homes receives your loan approval letter. Most mortgage companies are not accustomed to working within such short turn-around times. The lack of timely response by your lender may delay the start of construction on your home and ultimately the closings of your new home. Allen Edwin Homes cannot begin the process of building your new home until we receive your loan approval letter on the Allen Edwin Homes provided form called the Pre-Commitment Form (PCF). Non preferred lenders may also treat your end loan closing as a refinance if a lot transfer has occurred. This means that a three (3) day rescission period is in effect. This means that your loan has not been funded and you will not receive the keys to your new Allen Edwin Home until it does.

  • How long does it take to get loan approval?

    Some people get pre-approved before they shop for a new home. Loan approval can take a matter of hours or as long as several months. Typically, it takes about two weeks to complete the entire loan approval process

Home Warranty

Included Features

Construction

  • What if costs such as lumber, materials and labor increase after I purchase a home?

    Your purchase price is locked in at time of purchase agreement.   Any cost increases that occur are absorbed by Allen Edwin Homes.


  • What is a Project Manager and how can they help us?

    Production Managers are here to help assist you through the building process. They will inspect and manage the quality of your new home during the construction process. Only your Production Manager can provide updates for the construction timeline during construction. Your Production Manager will send all future updates on your estimated timeline right up through the completion of your home. 

Realtors

  • Does Allen Edwin Homes work with Realtors?

    At Allen Edwin Homes, we LOVE our Realtor Community! Our Sales Team partners with Realtors to educate them on new construction and ensure that your new home building process is as smooth and enjoyable as possible. On top of this, we pay the Realtor’s commission! This is one less cost you will have to worry about. 

  • Do we need to have a Realtor to buy an Allen Edwin Home?

    No. AEH has internal Sales Counselors that can take you through the process and answer any questions that you may have. We are a firm price builder, so no need to negotiate or put in any “offers”. 

Design

  • How will we know what my home will turn out looking like?

    At Allen Edwin Homes, we have homes throughout Michigan and Indiana that are fully furnished so you can picture what your dream home will truly look like. In addition to this, we have showcase homes - these are homes already built in an array of our different floorplans. We also have a large portfolio of photos, virtual tours, interactive floorplans, and model tour videos.

  • What if I don't know how to design a home?

    Have no fear - we are here to help! We have a 4,600 sq. ft. Design Center equipped with a team of Interior Design Experts! They will help guide you through the process during two personalized appointments. After these, you will feel excited and confident in your choices.

  • How can I find out what I can afford to spend at the Design Studio?

    Your mortgage company should send to you, a loan approval letter indicating the amount of money available for you to spend on upgrade selections and changes. The New Home Showroom Consultants do not have the authority to allow you to spend more than your mortgage approval allows.

Timeline

  • Does building a home take a long time?

    As the saying goes, and it's very true in homebuilding, "Time is money." By taking advantage of Smart Flow, Centralized Scheduling, and Controlled Volume, we are able to significantly decrease the amount of time it takes to build the home. Our streamlined process to decrease cost leads to superior home value on the day you move in. Another bonus about Allen Edwin is, if you do need to move quickly, we offer homes that are already built and move-in ready!

  • Is it hard to secure an Allen Edwin Home?

    We make it easy to secure and own a NEW Allen Edwin home.

    1. NO competitive offers
    2. NO waving inspections
    3. NO over bidding
    4. NO waiting for a reply to your offer
    5. NO heartbreak
    6. You want it, we will make it yours - easy and done!
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