MOST FREQUENTLY ASKED QUESTIONS

Buying a home can be an overwhelming, difficult, and seemingly frightening proposition. It doesn’t have to be that way! Here at Fall Creek Homes, you will have a licensed professional to guide you through the entire process—every step of the way—from conception, build, and closing. Following are some of the most frequently asked questions we get.

  • What does it take to get started?

    Every future home buyer will go through a similar process. You should first visit with a lender of your choice to discuss your budget and to receive a pre-qualification letter.  This will assist you with knowing how much of a home you can comfortably afford.  Once you have this information, you are ready to set an appointment with one of our licensed in house representatives, which will guide you through the process of selecting a location, plan, any desired customization.  This preliminary construction meeting should be informative, exciting, and fun!  You will be provided with a Cost Breakdown form outlining the cost of your build.  If you decide to move forward, the same representative will fill out all the needed paperwork (Purchase and Sale Agreement and all accompanying/required documents).  When you sign the Purchase and Sale agreement, you will need to be prepared to provide your lender provided pre-qualification letter and earnest money (3% of the cost of the build).  We’ll take it from there!

  • Is a Construction Loan required?

    Fall Creek Homes does not require a construction loan in order to build your home  (although if you have one, we can work with that too!).  This builder will finance the cost to build the home.  You will be required to provide earnest money.

  • How long does it take to build a home?

    In order to build your home, we will need to redline your plans for any desired customization,  have the plans drawn up by a draftsman and possibly have them engineered.  Additionally, we will need to obtain a building permit from the City/County, and possibly (depending on the location) obtain approval from the HOA.  This process can take as long as five weeks.  Once we have the building permit, it will take seven months to complete your home.  This is not because it takes seven months to build a home, but because Fall Creek Homes is a production builder.  At any given point in time we have approximately 30 to 50 homes in various stages of completion.  There will be time periods over the course of your build that no work will be done on the home.  This is taken into account in the seven month time frame.

  • How do we determine colors/products/etc that will go into our home?

    Once you’ve determined the community/location and home plan of your dreams and a Purchase and Sale agreement is in place, you will set an appointment with the office. It’s time to express your unique style and tastes!  The office has a show room with the various options you have to select from and to make your home truly one of a kind.    The person assisting you is experienced in design and has personally selected the colors that go into many of the spec homes that Fall Creek Homes builds.  You will not have to run all over town visiting various suppliers and be “up sold” blowing your building budget. Everything is conveniently located in our Model Home in order to make the process as simple as possible.

  • What is the closing process like?

    About a week prior to closing, you will do a walk through of the home with our Job Foreman to develop punch list of items that need addressed in order for you to agree that the home is completed.  The walk through list will be addressed prior to your closing date.  The Job Foreman will obtain the Certificate of Occupancy and make sure that the home has passed all required City/County/State inspections and that the walk through punch list items have been completed.  Your lender will then call for an appraisal of the home.  Next, your lender will set  an appointment for you to go to the title company and sign the closing documents.  Your lender will transfer the needed funds, and the deed will be recorded.  That’s it—you’re ready to move into your new home!  (Keys are made available once funding and recording have occurred).

  • Do you have building lots available or do I have to find my own lot?

    Fall Creek Homes has a large inventory of building lots in various subdivisions from Rexburg to Idaho Falls.  If by chance, one of our lots does not suit your needs, we can potentially purchase a lot you identify that will work.

  • Will you build plans that I provide you, or do you only build set plans?

    One of the things that makes Fall Creek Homes unique is that we only build our own well designed plans.  The benefit of this is the fact that we know exactly what the costs involved with building your home will be.   There are no “unknowns” as to what building your home will cost.  That means no surprises when it comes time to close!

  • Can I customize your plans?

    Fall Creek Homes will gladly customize our plans to meet your needs—to a certain extent.  Occasionally there are structural or engineering issues that require our plans to remain the way they are drawn up.  One thing to keep in mind, is that the greater the degree of customization, the higher the price of your home will be.

  • Do I need to have a real estate agent?

    You are not required to utilize a real estate agent in the transaction.  However, if you do have a realtor or decide to use an agent, we are happy to work with them to get you into the home of your dreams.  We love agents!  Remember, a good competent real estate agent works for you.

  • Why doesn't the website include any pricing?

    Fall Creek Homes is pleased to offer what we believe to be the best quality and value of any home builder in the valley!  We have set pricing for each plan, based on the size and cost of building each home.  We are happy to provide you with a bid for any of our floor plans.  Bids are good for seven days.  Pricing can change based off of increases/decreases in building supplies, labor, etc.  We want to make sure that when you are given a price, it is accurate and up to date!  When it comes to budgeting, no one likes surprises!

  • Can you give me a cost per square foot to build?

    Fall Creek Homes does not give a “price per square foot” estimate to build homes.  We believe that such pricing is a misleading tool employed by some to ensnare naïve buyers.  Trying to compare pricing based of square foot pricing is almost never an “apples to apples” comparison.  For example, if Builder A gives a quote of $100 per square foot, and Builder B gives a quote of $90 per square foot, which is the better value?  The answer is, it depends.  Builder A may be quoting a price per square foot that only includes builder grade finishes such as laminate counter tops and vinyl flooring, while Builder B’s quoted price per square foot includes custom tile work and granite counter tops.

Financing

Over the course of the last several years we have had the pleasure to work with many finance companies. In order to build your home we would encourage you to speak with a number of local, knowledgeable lenders in our area. We can personally recommend:

Derek Oswald | Idaho First Mortgage
Senior Loan Officer
NMLS# 335555

3340 Merlin Dr, Idaho Falls, ID 83404
Cell: 208.589.4204 F: 208.881.9267
Email: doswald@idahofirstmortgage.com

Stephanie Hay | Idaho Central Credit Union
Mortgage Loan Officer
NMLS# 522569

Direct Line: 208.637.8702
Fax: 208.637.8647

Jace Kellogg | Idaho Central Credit Union
Mortgage Loan Officer
NMLS# 1574440

Direct Line: 208.478.3501
Cell: 208.577.0475

For you convenience, Fall Creek Homes has chosen First American Title Company’s Rigby branch as our title company of choices. Courtesy closes are available at any of their other branch locations, but all paperwork will be handled through the Rigby branch:

First American Title Company

State License # – Jefferson 5624 / Clark 5617
110 North Clark St.
PO Box 405
Rigby, ID 83442
(208) 745-8715
rigbyid@gofirstam.com

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