Why Taylor Morrison?

Q: I'm purchasing a new home in a new community. How do I know that a Taylor Morrison home is a good buy? A: We do extensive research before investing in any community. We build in high-growth areas with great schools and proximity to the amenities you and your family want. In addition, we use our experience as "one of the most experienced and longstanding homebuilders in North America" to build you the type of home that stands the test of time. Our homes return some of the best customer satisfaction numbers in the industry - even being named "America's Best Builder" - so you know you can depend on excellent service before, during, and after the homebuilding process.

Q: Do I need a Real Estate Agent to purchase a Taylor Morrison home? A: Whether or not you use a Realtor® is a personal choice. Although we work very closely with real estate professionals at all of our communities, you by no means need an agent to buy a home. Your Taylor Morrison Sales Associate can walk you through the entire process, and answer any questions you may have. In addition, you can conveniently work out your home financing with Taylor Morrison Home Funding.

Q: I found a neighborhood I like, but it featured more than one builder. Why should I choose Taylor Morrison? A: As the world's most experienced homebuilder, we can offer you many advantages: Our limited warranty to protect your investment and give you peace of mind; Quality construction and materials from our national and regional trade partners, whose names you know and trust; a commitment to quality homebuilding; outstanding customer satisfaction ratings; award-winning designs; award-winning service; and the opportunity to personalize your new home to meet your family’s preferences.

Q: What resources are available to verify the professionalism of home builders? A: Industry trade associations and outside consumer satisfaction firms both monitor the satisfaction levels of consumers with national builders. Search J. D. Power and Associates or The National Association of Home Builders to review company performance.

Finance Your Home

Q: What is the largest home loan I can qualify for? A: Most mortgage lenders will qualify you for a mortgage amount of about 2 to 2 1/2 times your gross salary.

Q: How can I reduce my payments over the life of my mortgage? A: Reducing the length of your loan (for example: a 15- or 10-year term versus a 30-year term) will drastically reduce the interest you pay over the life of your loan. You may also make additional principal payments to reduce the interest paid.

Q: How accurate is the mortgage calculator? A: The mortgage calculator gives you a very accurate look at the principal and interest payments on your loan. However, if applicable, you must remember that any taxes (such as city tax and county property tax) and insurance will also be added to your monthly payments.

Q: How much can I expect to pay at closing? A: Typical closing costs can range from 3 to 8 percent of your total loan amount. A safe estimate is 8%.

Q: When should I consider refinancing my mortgage? A: Lenders normally recommend refinancing a mortgage if the market rate is one or more percentage points below the rate on the loan.

Q: What is a "point?" A: In lending terms, a point is equal to 1% of your loan amount. Paying points up front can lower your overall interest rate.

Q: I want to lock in my mortgage interest rate, but I'm concerned that the building process will exceed the time I can hold the rate. What do I do? A: Your Mortgage Consultant can work with you to lock in your rate for the time it takes to build your Taylor Morrison Home. In fact, the "Builder's Best" loan product actually locks-in your loan for a period of up to 360 days while you build your home (available in most locations). Other lenders will also be able to extend the lock-in allowance for a new construction mortgage - just ask!

Q: I've been in my Taylor Morrison home for four years. Is it a good time to refinance? A: If your current interest rate is one or more percent below your financing rate, you should look into refinancing. To get a detailed look at the pros and cons of refinancing, please contact your Home Mortgage Consultant.

Build Your Home

Q: I was recently at your Design Studio, and noticed I could get better prices on some of the same items at a home improvement store. Why is this? A: Actually, the perception that you get better prices at a home improvement store is false. Unlike with traditional retail stores, the price you pay at the Design Studio includes:

• Delivery/installation in time for move in
• Warranty on every installed item
• Cost rolled in to your home mortgage
• Sales tax-free purchase of items
• Expert design advice/consultation

Q: What choices do I have in my home design? A: Most Taylor Morrison homes have many options from which you can choose. In addition to these, you can further personalize your home by selecting your finishing options with the help of the professional designers at our Design Studio.

Q: What types of materials will be used in building my home? A: Taylor Morrison has developed both national and regional relationships with leading trade partners to ensure that quality products will be used in building your home.

Q: I'm not an interior designer - how can I be sure the home options I select will work well together? A: The design professionals at the Taylor Morrison's Design Studio will provide you with as much - or as little - design advice as you like. Because they are familiar with the home plans offered by Taylor Morrison, and of the options available, they can provide you with valuable insight during the selection of your home options.

Q: I've reviewed my building schedule, and I'll need to move out of my old location before my new home will be ready. What do I do? A: Your moving company can provide you with storage options for your goods for as long as you require. In addition, each Taylor Morrison city has temporary housing options available for just this situation. Check with the local Chamber of Commerce or online to find the appropriate temporary housing solution for you.

Q: Can I store any personal items and belongings temporarily while moving? A: Most moving companies offer temporary storage for a fee. If you’re not able to move into your new Taylor Morrison home immediately, contact a local mover for more information.

Living in Your Home

Q: How does the limited warranty work? A: If anything covered by the warranty should go wrong with your home during the warranty period, we will repair it quickly - and with a smile. Our goal is your satisfaction, and there's nothing we take more seriously.

Q: I can't seem to locate all the paperwork on my appliances. Can I get another copy of these? A: Sure. First, go to the manufacturer's website where you can find valuable information about your appliances. Usually you can order another copy from the website, or call the manufacturer directly.

Q: I recently added a deck onto the back of my home. Is this covered by the Taylor Morrison Warranty? A: Only work that was installed by Taylor Morrison is warranted under the Limited Warranty. For anything installed after your home was built, check with the manufacturer or installer for warranty information.