Thus far my experience with Ryan homes and NVR has beena very good experience. Everyone I have dealt with from the Sales Rep, to the project manager, to the loan officer has been very helpful. What kind of loan is it with 0 down?
But still it is very stressfull for us, because they always act like we are hiding someting.
Then they said we need a gift if we do not want them to pull our score again; than they said they will pull agaian; if score is up, rate will remain the same; if score is down our rate will go up; and now they want proof of every $ posted on account and where did we spent the money, since we are "on the budget"......
It almost looks like they are just trying to find something to screw us.
You are in a 0% down program - they are going to check and double check everything - they are assuming a lot of risk and YOU (if you defaulted) have no money to lose. This is their perspective and it is valid - they are assuming all the risk financially.
You are putting nothing down - but they see monsy going thru your account - they just want to know what's up. If you pay the in-laws bills in the future - set up a separate account (many banks have free checking with no mins) - just don't run it thru your account. that you use.
Jump thru their hoops - you will be happy you did in the end.
Now a member of the UNOFFICIAL 700 Club - Plus scores of 734-734-747
It doesn't matter what you show Ryan Homes. Ryan homes is a division of NVR Inc. If you use another lender you lose your incentives (building options) origination fee ect...you can use alternative lenders, but then all incentives are awash. Beware of deposit, because NVR was disputed over deceptive practices has keep peoples deposit, well in excess of 20,000 more..most of time. Then you have to go through lawyer ect...NVR and Ryan homes tell you and give you in writting what they will pay at closing, then switch it. Like bait and switch. Honestly....you can't do anything at that point but what NVR says, because most of us can't afford to lose 20,000 dollars. 28,000 in my case
MILITARY MEMBERS BEWARE!!!! We were also hoodwinked into using NVR mortgage services so we could receive the full benefit of free upgrades being offered; it was the worst experience we've ever had with real estate! When the VA changed their financing cap from $417K to $600K something, NVR simply changed their credit score requirements so they didn't have to refund us our down payment. We were told we just missed it by a few points! The LO was totally non responsive, so much so that when the rates dropped we were not able to lock our rate because she just didn't respond! We e-mailed her supervisor and got no response, then e-mailed her supervisor's supervisor and still received no response. Finally my husband called the district manager after we were told that the LO and all her supervisors were in a meeting and could not be disturbed. Funny, they answered the phone when he called. The loan processor repeatedly asked us for documents we had already sent. The LO failed to request my husband's disability certificate so we could be exempt from the Loan Origination fee. Up until the day before settlement we were e-mailing the LO and processor to find out how much we needed to bring to settlement and what other documents they would need. Then when we went to settlement, the representative was upset because we actually wanted to read what we were signing! She left us in a room and went to another settlement! We received nothing but attitude when we asked for clarification on documents. I will never use NVR Mortgage, Settlement Services or any other service they say is separate, but they are all one big company with Ryan homes, ever again!