Okay, all right, nice. Your arm back again with custom homes. Broken Arrow builder. My number is nine one eight five, one eight, one, two, six, six. I am the number one sales minute, the biggest custom home broken Arrow and builder in Tulsa. So I worked for Shaw homes, had been working for show homes for five years. Um, and uh, I’ve been here just through this series of podcasts and going through our process a bit and I just finished up our last podcast about custom home broken Arrow builders on financing. Um,
and just to review, we have three preferred lenders, first of Oklahoma Bank, Bank of Oklahoma mortgage and spirit bank. Ethan, there’s our rabbit, first bank of Oklahoma Wandra. He gives us our rep at first Oklahoma mortgage. custom home Broken Arrow And Lexi gains is that spirit bank. So we have a lot to choose, a lot to work with. If you want to talk to hear more about what I said on lending as far as custom home broken Arrow builders is concern, feel free to visit those visits. That podcast last, uh, my last podcast on that. Um, we, uh, we do offer all of the loans, native American, Vha, Fha, conventional, we do have already neighborhoods. And while I’m on that subject of Rd, um, I want to cover the grounds of what you need to start a home with us, show homes, custom home, broken Arrow builder to start a home with us
to start at home with us as a custom home broken arrow builder. We need a preapproval letter that’s not a full mortgage commitment if you go outside of our, one of our three preferred lenders than it will be a full mortgage commitment at this time. It’s just a preapproval letter m because we trust there’s a trust relationship with our lenders and which trust their word. So, and they say somebody that’s good to go, we believe that. And then that works for us. So you don’t have to go through underwriting and our spin, um, you know, mom’s doing that. You just need a preapproval letter. Also, we need the full earnest money requirement, which, um, we have different levels and I’ve been told, and this true they do, but we do require more than other builders. But let me explain that because that comes up
as the shawl homes custom home broken Arrow builder, we require more. custom home Broken Arrow Okay. So if you’re planning on, say you’re planning on building a 250,000 square foot home and uh, our money requirement for that is $5,000 and you say, well such and such builder builder a down the street just said we needed a thousand. Why are you charging so much? Well let’s look at this real quick. So if we charge 5,000, that means $245,000 will be spent by us and $5,000 by here, the risk is on us. It takes us seven months to build a house. The risk to build a home, that’s all nuts. So we think it’s absolutely fair. Not only that, but let me, let me say it another way. The bank at $250,000, three point five percent, which is the lowest still allow. Even if you do a vh, which is zero down, they’re still gonna require a closing cost.
So either one of those, either three point five or closing costs will be, you know, sick anywhere from six to $10,000. So by giving us $5,000, you’re just basically giving us what the bank you’re giving us less than the bank requires. So people always say that, you know, you guys charge more, but we don’t think it’s unfair. Um, we don’t want to be stuck with a house even though we know we can sell it, we don’t want it stuck with the House that you’ve designed, that you’ve put your, you know, all your desires, emotions into, and even custom changes to our plan. So when we enter into agreement, we want, it’s like a marriage agreement with us and marriage covenant. I mean there’s wedding bells in the distance. We want you to follow through with what you’ve done in the. custom home Broken Arrow One of the ways we can guarantee that you will, is by charging a little bit more money. It’s like a good restaurant. Excuse me, custom home broken Arrow builders. It’s like a good restaurant. When you go to a great restaurant on a Friday night, say it’s a Saturday, you know, Sunday, say it’s Saturday, Valentine’s Day, what would you think if you went in that restaurant and there wasn’t many people there on Valentine’s Day, we did not concern you.
Would you not expect with a great restaurant to wait a little while longer than another restaurant per se? Well, what about us as a builder or the best builder in town? It’s a fact. The numbers prove it in the building. Now report says Shaw homes is the number one builder by revenue in the Tulsa area, especially custom home broken Arrow builder. If you’re going to build with us, because of our quality and what we put in our home, custom home Broken Arrow we have the ability to charge a little bit more. It’s not outrageous. It’s not unfair. It’s just a little bit more and it’s definitely worth. If you’re going to spend $250,000, it’s worth your time. Spending a little bit more for a quality home. Then not just trying to go with another builder because they’re charging, you know, 4,000 less every $10,000 you in your payment, it’s about $80 a month on your mortgage payment.
So think about that for a second. Every 10 you spend $80 a month. So you just chose a, a lesser house because of $4,000, which is really, if you were to break it down in the monthly, I’m $35 on your payment, so $35 a month you chose the lesser house. So really we’re not charging, asking for unfair things by asking for $5,000 to start at home. So, but anyways, let me break that off into a little bit more talk. Okay. It’s fine if you stay under 2:50, it’s 5,000. If you’re in between 2:50 and three in your home, it’s 10,000. If you’re between three and three slash 50, it’s $15,000. And if you’re over 50 it’s five percent. custom home Broken Arrow That’s what we asked for as well as a preapproval letter. Those are the two things we need to get the ball rolling. Now we carry the construction loan as a custom home broken Arrow builder at show homes, which means that you won’t pay another dime until the house is finished seven months later, which is great because we’re going to be paying the taxes on the land.
We’re going to be paying the taxes on the permits and all those kinds of things. If somebody were to break into the home or somebody were to steal a pallet of two by four brick or something, we’re going to pay that to, you’ll require you, you will, you will cover no risk in your, no risk for the property or the things on the property. So it’s a good deal. And, uh, you can save money while you’re waiting on your home to be finished. I’m so, you know, uh, as far as the lending financial questions is concerned, I think that pretty much sums it up. I think that he is a customer and broken Arrow and builder at show homes with a thorough analysis of the lending side and that kind of will get you gotta all in place on what you need. Far as lending is concerned.
I’ve actually even going back to the earnings and requirements, I’ve actually taken people’s car notes and held it, you know, for the value of the car, a car and car notes, car titles held the value of the car as a, as a collateral for their earnest money requirement. So we want to build your home and we’re willing to work with you. I’ve set monthly payments up for people to get their four and a spending requirement. It’s not something we’re trying to hold hostage, but we definitely want to build your home. It’s just something we need for you to be invested into that tell us that you’re invested because even the good good word tells us that we’re treasure is there. Your heart will be also so we know when you have your money involved that you’re involved. Um, and so what we want and that kind of gets you a setup on the money aspect and lending side.
And next hour we’ll be covering. I’ll be going into kind of a homesite reservation side. What you can expect to see as far as home cyber reservation is concerned and what you’re going to do with that. We’re super excited to talk about that. That’s an a very exciting step of the process. The land is critical. It’s crucial to the deal. It can be a good deal or a bad deal based on your land. Really. It can be. You can have the most amazing house designed. It has absolutely beautiful and, uh, just flattering, just gorgeous. Got a great deal on it. But if you don’t have a good piece of land, if there’s not something excellent about your land, which I’m going to help you see what’s excellent about all different directions of laying next, then you will forfeit all the value of your deal. That’s how importantly this. Alright, custom home broken Arrow builder, Nigel Arnold.