Happy with M/I Homes Customer Story

Our customers are truly our greatest advocates! We don’t just work to sell a home; we work to make sure families are happy in their M/I Homes for years to come.

Sheri Carrell is one of our happy homebuyers! She’s been in an M/I Home since August 2011. Read more about her experience with M/I and why she’s so happy with her decision to build with us.

1.        What neighborhood/town do you live in?

We live in Marlin Meadows on the southeast side of Indianapolis. We like Marlin Meadows because it is quiet and away from the traffic.

2.        Is this your first M/I Home?

Yes

3.        What made you want to build as opposed to buying an existing home?

 My husband works from home. We wanted an office in our home that was away from the main living area, but still convenient for him. Also, he has always wanted a BIG garage and we just couldn’t find what we wanted during our search for an existing home.

4.        How much shopping around between home builders did you do before deciding to go with M/I Homes?

 A lot! I spent a significant amount of time searching various builders online. I checked out floor plans, communities and prices.

5.        Why did you ultimately decide to build with M/I as opposed to other builders?

We ultimately decided to go with M/I because we LOVED the Kentmore floor plan! During my research I found that M/I offered the best selection of floor plans for single story homes. We are in our early 50’s and wanted a home that would not present mobility issues as we grow older together. M/I gave us the option to build exactly what we were looking for without making compromises. We also liked the location of the M/I communities.

6.        Are you pleased with your M/I Home?

 We are so pleased with our home! We lived in our former home for 21 years and raised our children there and we were afraid it would be hard to leave that home and those memories behind. But the truth is we were so excited about our new home, it made leaving our old one a lot easier. With the economy being what it is right now, it was a scary decision for us to decide to move, but we have not regretted it one bit.

Often my husband and I will look at one another and simply state, “I love our house”.  The other one always says, “Me, too!”

7.        When working with M/I Homes’ sales staff & team, how were you treated?

EVERYONE and I mean everyone at M/I Homes Indianapolis was great to work with.  The folks at M/I Financial were on top of everything and we closed without a hitch.  Diane in the design center pretty much catered to our every whim. Alan, our construction supervisor kept us up on everything that was going on during the build and resolved any issues promptly. Sheila, our sales representative was a lot of fun and helped us out tremendously! Jeff, the sales representative at Marlin Meadows is such a great guy.  There was a Kentmore already built in Marlin Meadows and he allowed us to spend LOTS of time in there, just looking around and planning our home. That was so helpful.  We still see him often and he is like a friend to us.

8.        What is your favorite thing about your home?

 This is a tough one! My husband Bill loves his office (which is in the bonus room) and his “dream garage”. I love that the home features plenty of space without having wasted space. I just think it is a lovely home design, with pretty features like the vaulted ceilings and plant shelf in the living room. Beautiful on the inside and out, we love living in our home!

9.        Is your house somewhere where you envision yourself living for years to come? Why or why not?

 We are here till “death do us part” haha!

10.     Is there anything else you’d like to add?

I just want to say that we were a little afraid of the process of building a home. Good customer service is hard to find and we were skeptical. But that has changed! On every level, M/I Homes Indianapolis not only met our expectations, but exceeded every one of them!

Mortgage Qualification Tips

We’re now offering our LOWEST interest rate ever with a 2.875% on a 30 year conventional fixed rate!!!  Before taking advantage of this wonderful opportunity, check out this “how-to” guide that breaks down mortgage qualification.  Additionally, consult with an M/I Financial advisor  to answer your questions and help decide what’s right for you. 

M/I Homes Lowest Interest Rate Ever

Well before you start drooling over home listings, you need to know how much home you can afford to buy. When you take the time to determine an appropriate mortgage amount, you’ll avoid looking at homes you can’t pay for, or worse yet, bidding on them.

What can you afford to pay for a house?

First, start by making a budget if you don’t already have one. Be honest with yourself about the amount you can reasonably spend each month on your housing. Be sure to factor in taxes, insurance premiums, maintenance and other upkeep required when you own a home. No calling the landlord to fix that broken hot water heater when you own the house! You should also consider your other financial obligations and how they play into your ability to pay for a mortgage.
With excellent credit, you may find that you qualify for a substantial loan, but you need to remain realistic with yourself about your current financial situation – don’t count on a pay raise that may not come through, and don’t tell yourself that you can scrimp each month in order to make your mortgage payments.

Checking your credit history is key

Your FICO score, also known as your credit score, tells lenders whether you are a worthy risk. The number is an indicator of whether you pay bills on time and whether you have outstanding debt.
Check your credit report through www.annualcreditreport.com to request your FICO score, and then get to work disputing any incorrect information with your existing or previous lenders.
If your score is low, your home loan application may be rejected. Even if it’s accepted, you may be required to make a larger down payment or pay a higher interest rate on the loan.

The difference between pre-approval and pre-qualification

Pre-qualification is the first step in the mortgage purchase. Before showing you properties, your real estate agent will likely ask you for a pre-qualification letter. The process to obtain one is straightforward: Over the phone or online, you supply your lender with information about your financial situation, including your income, assets and debt. The lender will evaluate this info and provide a ballpark figure of the mortgage amount for which you could qualify, in addition to discussing your mortgage options. This service is usually free.
Your pre-qualification doesn’t guarantee how much the bank will lend you. It also doesn’t include analysis of your credit report or deep scrutiny of your ability to pay for a home.
Pre-approval, on the other hand, is much more involved. After completing a mortgage application (which generally includes an accompanying fee), you will give the lender the go-ahead to perform extensive research into your financial history and credit score. The lender will then tell you the precise amount that it is willing to loan to you, so you will be able to begin looking for homes at or below that price. Again, you should also take into account your budget as you choose a home. A pre-approval doesn’t guarantee that you can make the corresponding mortgage payments, so you should do the math beforehand.
Completing both steps shows sellers that you are a serious buyer. When you make an offer, you will more quickly be able to obtain a mortgage, thereby reducing your chances of potentially losing out to another buyer.
After you have found the home you wish to purchase, you will update your pre-approval with the relevant details, and your application will be complete.

The last step: loan commitments

Once the lender has approved you and the house you’d like to purchase, your income and credit rating will be checked once more to make sure that it hasn’t changed since the pre-approval. A loan commitment is issued when the bank is certain it will lend.
Taking a hard look at your financial situation will go a long way toward helping you choose the home that is right for you. With a firm understanding of what you can afford and pre-approval from your lender, you will be well on your way to choosing the perfect home for you and your family.

 

source: National Association of REALTORS®

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