Home Buying

Rieger Homes has been a leading home builder in the Mid-Hudson Valley for over 50 years.  We are a family owned company under its second generation of leadership and are committed to building a successful relationship between our family of professionals and your family.  Our goal is to assist you and your family in building a new home of your dreams.  We hope that this series of articles helps to make your home purchase an exciting and memorable event.

 In step one of buying a home, we discussed the process to determine how much you could afford.  In step two, we will discuss ways to choose a mortgage lender.  This process of finding a mortgage lender takes time and energy, but in the end in could save you thousands of dollars.  In obtaining a pre-approval from your chosen lender before you start your home search, you are acquiring a tool that will show the seller that you are a serious and qualified home buyer. 

1.  Determine your loan needs – list items that are important to you like interest rate, points, low down payment programs, low fees.

2.  Review your credit report.  If you have not already ordered a copy of your credit report as suggested in the previous article, now is the time to check your credit report and know your credit score.  If you pay your bills on time and don’t have a lot of loans, you are probably OK; however, the reporting agencies can make mistakes.  Now is the time to clear up any discrepancies and fix any problems.  The bank will run a credit check as part of your mortgage loan process and you would like it to be as clean as possible.  The higher (better) your credit rating is, the easier it will be for you to qualify for a loan.  The large credit check services are Experian, TransUnion and Equifax.  These services’ websites also contain helpful information and advice on credit scoring and reporting.  One place to obtain a free credit report and advice is www.annualcreditreport.com.

3.  Use your affiliations.  Check with the membership services department for such organizations as your union, employer sponsored buying network, or credit union. Many times these resources are overlooked, however, they may provide special benefits not available to others.

4.  Get advice from trusted sources.  It is OK to ask for help, advice and referrals.  You may choose to speak with a professional.  That could be a real estate attorney that you hire, a housing counselor, a real estate agent or your builder.  You should always check with family and friends who have recently been through the process to have them refer you to reliable lenders that they have used and liked (or not).

5.  Understand loan options, prices and fees.  Mortgages have different options that will change the cost of the mortgage over its life.  Some mortgages have fixed interest rates, some have adjustable rates, and there are other features which may vary from lender to lender and product to product.  Shopping around and comparing the loan features and costs is the best way to avoid a more expensive loan.

6.  Pre-approval or Prequalification?  The difference between a prequalification and a pre-approval is documentation and verification.  A mortgage prequalification is usually granted after oral information is provided by the buyer to the lender and review of a credit report.  A mortgage pre-approval is a verified process that requires the purchaser to fill out an application and provide documentation of their income through W-2 forms, tax returns, bank statements and a credit report.  A pre-approval is a stronger and more reliable document.

Now that you have determined your price range, chosen your lender and have your pre-approval in hand, you are ready for the next step – deciding where to look.  Please check back with us as we discuss how to choose location.  If you already know your future neighborhood in Dutchess County, Orange County or Ulster County, New York, we would love to be your builder!  Please check out our beautiful neighborhoods and exciting homes and floor plans.  Good luck!

Rieger Homes, the new home builder of choice in the Mid-Hudson Valley, is happy to announce three different opportunities for you to view our new homes and communities this Sunday.  All 3 homes are Energy Star qualified new homes!  Come to one, two or all three! 

Located in the Town of Poughkeepsie, Dutchess County, New York, Stratford Farms is a community of rolling hills and gorgeous views.  The Kent Colonial on homesite 12 is a 4-bedroom, 2 ½ bath home with a waterline brick on the front.  It’s casual elegance will appeal to the most discriminating of people.  This home features hardwood floors; a gourmet kitchen with granite countertops and stainless steel appliances; and a master suite with sitting room, walk-in closets and private bath.  Come and see the rest of the wonderful amenities and finishes in this home on Sunday May 15 between 1:00 – 4:00pm.  $364,900.  

Our Grandview community is almost complete – all that is missing is you!  The Kent Colonial on Homesite 4 is made for a family.  Located on a cul-de-sac of 12 homes in Blooming Grove, Orange County, New York, this 4-bedroom, 2 ½ baths home boasts hardwood floors, master suite with sitting room, walk-in closets and private bath featuring soak tub with separate shower.  Stainless steel appliances gleam in the gourmet kitchen with granite countertops and center island which is adjacent to the welcoming family room with fireplace.  You’ll want to move right in!  Sunday, May 15 between 1:00 – 4:00pm.  An incredible value at $379,900.

Look no further!  The Hills at Goshen is a quiet enclave of homes in the Town of Goshen in Orange County, New York.  This elegant Mayfair Colonial home on 1 acre homesite number 30 embraces a gorgeous, well appointed kitchen with granite countertops and stainless steel appliances that leads to a welcoming family room with fireplace.  Front to back living room and formal dining room facilitate gracious entertaining.  We just can’t say enough about the master suite with sitting room, walk-in closets and private bath. Other great features include hardwood floors, central air and a large finishable basement with walk-out door and rough for future full bath.  A must see on Sunday, May 15 between 12:00 and 3:00pm.  $449,900.

For more information on these homes, floorplans and directions, please click on the available homes tab at www.riegerhomes.com.  If you would like a personal tour at a date and time more convenient for you, please contact the representative associated with the community you are interested in by using the link provided.

For information about other available home styles and communities, please click on the our neighborhoods tab at www.riegerhomes.com. 

 Enjoy!