It usually takes a lender between 1-6 weeks to complete the evaluation of your application. Its not unusual for the lender to ask for more information once the application has been submitted. The sooner you can provide the information, the faster your application will be processed. Once all the information has been verified the lender will call you to let you know the outcome of your application. If the loan is approved, the lender will review the closing with you. And after closing, you'll be able to move into your new home.

This will likely be the first opportunity to examine your new home without furniture, giving you a clear view of everything. At this time the builder and sales agent will introduce you to certain aspects of your new home and point out important maintenance issues. Southern Homes prides itself on quality construction. However, there is no such thing as a perfect house. During the final walk you might notice small imperfections. Please notify the builder and sales agent so that we can correct any issues immediately.

There may be closing costs customary or unique to a certain locality, but closing cost are usually made up of the following:

• Attorney's or escrow fees (Yours and your lender's if applicable)
• Property taxes (to cover tax period to date)
• Interest (paid from date of closing to 30 days before first monthly payment)
• Loan Origination fee (covers lenders administrative cost, if any)
• Recording fees
• First premium of mortgage Insurance (if applicable)
• Title Insurance (yours and lender's)
• Loan discount points (if any)
• First payment to escrow account for future real estate taxes and insurance
• Paid receipt for homeowner's insurance policy (and fire and flood insurance if applicable)
• Any documentation preparation fees

You'll present your paid homeowner's insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe Southern Homes (remainder of down payment, prepaid taxes, etc.). Once you're sure you understand all the documentation, you'll sign the mortgage, agreeing that if you don't make payments the lender is entitled to sell your property and apply the sale price against the amount you owe plus expenses. You'll also sign a mortgage note, promising to repay the loan. Southern Homes will give you the title to the house in the form of a signed deed. You'll pay the closing agent all closing costs and, in turn, he or she will provide you with a settlement statement of all the items for which you have paid. The deed and mortgage will then be recorded in the parish or county Registry of Deeds, and you will be a homeowner.

• Settlement Statement, HUD-1 Form (itemizes services provided and the fees charged; it is filled out by the closing agent and must be given to you at or before closing)
• Truth-in-Lending Statement
• Mortgage Note
• Mortgage or Deed of Trust
• Keys to your new home