Because our home prices vary greatly, your initial investment will also vary. Factors that determine this investment include the chosen floor plan, selected lot, and other choices affecting the overall home value.

In most cases, you are not required to sell your home; however, requirements/qualifications pertain to your individual financial situation and must be determined with our preferred loan officers.

We are unable to install any material or items that are not part of our current selections.   We have established vendor relationships that allow us to provide products that meet our quality standards and who stand behind their product should it unexpectedly fail.

All homes we build come with a limited new home warranty. We warrant for one year that the home will be free from defects* due to noncompliance with the building standards listed by the Home & Building Association of Greater Grand Rapids. We warrant for two years that the home will be free from major structural defects* due to noncompliance with the building standards listed by the Home & Building Association of Greater Grand Rapids. LED light bulbs carry a 3 year full replacement warranty from the date of installation. All appliances come with their manufacturer’s warranty.

*Exclusions do apply.

For inquiries regarding warranty please contact our dedicated Warranty Department at 616-916- 8895 or email us at warranty@jtbhomes.com.

Yes, but we do encourage our home buyers to work with one of our established Preferred Loan Officers. This is because they are familiar with JTB Homes and our building process. They already understand important details, such as dates and deadlines that are involved in the process.

No.

Interra Homes is a production builder.  We are pleased to offer a wide variety of options -- while at the same time keeping building costs within an affordable range. In order to maintain a favorable price point, there are some items that we are unable to personalize. Please speak with one of our agents if you have any questions.

No.

Yes, please have your agent contact one of our sales representatives to get the process started.

Generally, the process takes between 6 and 9 months from choosing your lot and floor plan, to closing and move-in.

For meetings with office personnel; no.  To help provide our associates with a work/life balance and time with their families, we prefer that meetings occur Monday-Friday; 8am-5pm. Our sales agents, however, can meet with you on Saturdays and evenings, if needed.

Yes, but only on select plats with new phases only.

No.

No.

Any appliances that are purchased through a vendor other than our trusted vendor partners must be installed after closing.

The building process for each of our homes is carefully crafted to ensure that your home will continue to be a place of quality and comfort for years to come. We promise to make the process as smooth and painless as possible. Please review our Buying Guide for details, but here is a quick run-down:

1. Find your lot
2. Decide on a floor plan
3. Get a pre-approval letter
4. Sign a purchase agreement
5. Meet with our Architectural Designer
6. Meet in our Design Studio with our Interior Designer
7. Review final plans with your Superintendent
8. Start Digging and Build!
9. Home Walk-thru
10. Close!

An ARM loan is an adjustable-rate mortgage, where the interest rate can adjust up or down depending on the market. Typically ARM loans start with a fixed rate period up front.

Yes and No.  Yes, the subprime (designed for individuals with challenged credit and little to no down payment) 2 year ARM mortgages, which had steep prepayment penalties, left many in homes they could not afford keep or sell, causing a domino effect on the housing market. However, today’s HYBRID mortgage is different. They now offer longer fixed periods with no prepayment penalties. They also provide a cap on the maximum the rate can increase after the fixed period lapses (3, 5, 7 or 10 year period).

With a fixed-rate mortgage, the borrower locks in a rate for the life of the mortgage. With an ARM (adjustable-rate mortgage), the borrower exchanges the risk of their rate rising in the future for the reduced interest rate upfront in the initial fixed period. Today’s spread varies from lender to lender and day to day. The most common ARM term today is the 7 year and is currently sitting on average around 1.5-1.75% lower in rate than the standard 30 year fixed rate. For example on a loan amount of $400,000:

30 year Fixed at 5.5% rate would have an estimated P&I payment of $2271.16 for all 360 months.

7/1 ARM at 3.75%  rate would have an estimated P&I payment of $1852.46 for the first 84 months.

Estimated savings in interest comes to around $48,027.51. When you combine the interest saving with an estimated $13,300 in reduced balance (at the end of 84 months), your total savings would be around $61,327.51 using the ARM loan.

On a $600,000 purchase, estimated closing costs are around $7,000 and typically include all lender fees (not rate buy-down or extended locks), title fees and prepaid interest and estimates for establishing an escrow account for property taxes and insurance.

No. The fees are the same for both ARM and Fixed Rate mortgages.

If interest rates drop over .25%, you can request to have your rate renegotiated down once during the locked period.

All mortgage terms have an interest rate reduction option by purchasing point to lower your rate. Typically 1% in points will lower rate between .125% and .25% in rate. The points are calculated based on your loan size. For example, 1% point of a $400,000 loan amount comes to $4,000.