Planning

Obtain Your Credit Information

Prior to buying a home, you need to order your national credit files as they play a key role in determining what sort of terms the lender will offer. Along with this, lenders will need to see the following:

• Documentation of your income
• Employment
• Two years of IRS filings if you are self-employed
• Bank accounts
• 401(K) funds and other assets. 

Determine Your Price Range

For this, we suggest working with our financing expert, or your own trusted finance expert, to determine your price range. However, lenders generally say that the “rule of thumb” is a home should cost no more than three to five times your annual household income when you plan to make a 20% down payment and have a moderate amount of other debt.

Where Should You Live?

There are a variety of factors that you should consider when choosing a community for you and your family. This is the soil where you are planting your roots, and you want it to be meaningful and comfortable for many years to come. At Loomis Homes, we specialize in communities in the southwest metro that are centered around the following:

• Affordability: We understand the importance of living comfortably and within your means. It is a great concern for many homeowners, and it generally includes more that housing expenses. It can include the price of groceries, which vary greatly from town to town, gasoline prices, and utility services.
• Education System: We know that a good education is essential to setting up your children for success and security in their lives. Therefore, our homes are in communities that are located in the top school districts throughout the southwest metro.
• Employment Opportunities: Minnesota is home to many large companies in a variety of industries. When you choose one of our communities, you can feel confident that there are many job opportunities close by.
• Recreation: With the many outdoor activities that living in Minnesota provides, we have made sure our communities are located near lakes, recreational areas, parks, trails and more.

Your Best Fit

At Loomis Homes, we offer master designed floor plans that were created with a functionality first approach. We offer four types of floor plans that are carefully crafted to fit you and your family’s lifestyle:

• Two Story: Our two story homes offer a wide range of architectural styles from small to large in square footage and are accompanied with varied price points to match your specific needs and personality. Centered around safety and security, our two story homes are perfect for young or established families with all main bedrooms on the same floor.
• Rambler: If you are looking for main level living, Loomis Homes presents a broad collection of rambler homes that provide exactly that. These homes tend to appeal to all generations, from empty-nester’s to younger families, because all the bedrooms are on the main level, while a large family space is located on the lower level.
• Split Entry: Loomis Homes presents a wide range of split entry homes that feature a three car garage, one level entryway, two stories, and a bottom level. With better utilization of the lot, the split-entry home is cost-efficient and suits families of all sizes.
• Villa Homes: Loomis Homes presents carefree living with our one level villa homes. Our villa homes were designed to maximize the important features of a home, while minimizing unnecessary space. This not only allows for all the necessities to be on one level, but the more condensed space presents innate cost savings.

Sign Your Purchase Agreement

Once you’ve found the perfect home for you and your family, it’s time to make it official! Our team will walk you through the entire process and the details, and once you’re ready, you will sign your purchase agreement.