New Home Buyer FAQ

What is the first step in the buying process?

An important first step in buying a new home is getting preapproved for a loan. After the preapproval process a new home buyer can decide what is a comfortable monthly payment or what is a reasonable price range.

What are the different types of loans for new home buyers?

There are many types of new home loans. Our preferred lender can review your financial situation and recommend the loan that best suits you!

What incentives are you offering?

Incentives for new homes can vary. Mungo currently offers a Community Partnership program – select military and medical personnel, teachers, law enforcement and firemen/EMS receive 3% of the base price in free options on the purchase of their new home. For other potential incentives, see an on-site agent at one of our model homes.

We would like to build a home, how long is the building process?

The length of the construction period varies depending on the size of your new home and the neighborhood. The average construction time is 120 – 150 days, but longer for a large, luxury home.

How can I customize my new home?

Mungo offers many options and upgrades to personalize your new home. For a list, see the on-site agent at one of our model homes.

Are there Home Owners Association dues? What do the fees include?

To protect the integrity of the neighborhood and the value of your new home, our communities do have Home Owners Associations that require annual dues. Dues vary by community as some include more amenities than others, such as a pool, green space, tot lot, common areas, entrance features and, in some neighborhoods, front lawn maintenance. Varying by neighborhood, dues are paid either quarterly or annually.

Are there restrictions in each community?

There are Covenants and Restrictions specific to each neighborhood. This information is available on each of the community pages within our Web site or can be obtained from the on-site agent at each model home.