Meritage Homes has been building reasonably priced, energy-efficient homes across the nation for 35 years. Their homes are all Energy Star certified and, in some instances, have reduced utility expenses for residents by 50%.
Meritage’s primary goal is to provide its clients with cutting-edge efficiency while saving them money and preserving the environment. They are lowering their carbon footprint by building residences that consume less energy.
Working for Meritage involves working for a company that is actively exposing the problems with the market and outlining improvements that could be made.
If you are interested in being a member of Meritage Homes, these are our Meritage homes reviews. This article will also guide you through the career paths available.
What is Meritage Homes?
A publicly traded American company called Meritage Homes Corporation builds different single-family detached homes throughout the country.
Based on 2020 home sales, it is the sixth largest home builder in the U.S., and its residences are made for first-time and up-level buyers.
In Arizona, this business venture also creates luxury homes and active adult communities.
In its 35-year history, the company has delivered over 150,000 houses and has earned a reputation for its distinctive style, high-quality construction, and exceptional customer service.
Since 2013, Meritage has received eight Energy Star Partner of the Year for Sustained Excellence Awards from the U.S. Environmental Protection Agency in recognition of its innovation and market leadership in energy-efficient homebuilding.
These further improve the company’s profile.
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Application Requirements for Meritage Homes
A simpler, easier, and more affordable entry point into the new house of your dreams is provided through Meritage Homes.
You’ll want to purchase a home as soon as you find the ideal one, regardless of whether you’re in a buyer’s or seller’s market. It’s not always that easy, though.
The terms of your mortgage and your ability to acquire the home depend on several financial factors.
Purchasing a home from Meritage Homes can be made simpler by being aware of the application requirements.
Many of these requirements can be found when you access the Meritage Homes profile.
What Kind of House Can You Afford?
It’s fascinating that you are in the market to buy a property. However, if this is your first time going through the Meritage homes review, you undoubtedly have many questions, such as how to figure out what price range for monthly payments you can afford.
While it’s a good idea to go through a pre-qualification procedure with a lender, Michele Radosevich, Senior Loan Consultant with MTH Mortgage, which offers home loans to homebuyers, says it’s equally crucial to do your research beforehand.
Pre-approval will give your budget formal status.
A pre-approval can help you figure out how much you can afford comfortably. You have the option of working with MTH Mortgage, the preferred Meritage Homes lender, who will support you from this moment until the day of closing or finding your lender. This is one of the characteristics that makes Meritage homes reviews top-notch
By completing their online application, MTH Mortgage will start the process of pre-approving you. It will inquire about your current dwelling situation and financial situation.
The same should be true if you work with a different lender who will typically follow up with a thorough credit history and profile, assisting you in choosing the most excellent loan alternative available.
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Income
Lenders look at your gross income (before taxes) when deciding whether to approve you for a loan. You’d be shocked at how few people know their actual income, claims Radosevich.
Reviewing your W-2s or recent tax returns is the most straightforward approach to determining your gross income. You should also review your pay stubs from the previous 30 days to see if your pay structure or the amount has changed.
Radosevich advises to “really lay out what you make and what category that comes into.” You should consider your pay type—salary or hourly, or whether you get commissions, bonuses, or overtime.
Down Payment
Radosevich suggests you create a budget based on your gross income at the outset of your property hunt to ensure you have extra money set aside.
This will make it easier for you to budget expenses like closing charges and down payments. Different down payments are required depending on the type of loan you obtain.
Depending on the lender, some purchasers can put as little as 3% down, defying the conventional wisdom that requires 20% down.
Depending on your kind of 401(k), a loan from one is an additional choice. To determine whether this is the right course of action, you should first speak with a financial counselor and your employer and check out the Meritage homes reviews.
Many new-construction firms, including Meritage Homes, will pay all or part of the closing cost.
However, closing costs like title insurance, processing costs, and taxes might vary, so it is advised that you speak with your homebuilder to find out how they can assist, given your particular circumstances.
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Assess your debt
According to Radosevich, figuring out your debt-to-income ratio—or how much of your gross monthly income goes toward paying off debts—is crucial in determining how much house you can buy.
“You should try to keep that percentage at or below 30%. She suggests that the lower, the better.
Two computations should be considered:
The front-end ratio
This is the difference between your gross monthly income and your total mortgage payment.
Although the proportion can range higher or lower, many lenders believe an optimal average percentage should be about 28% or less.
Back-end ratio
This is your monthly gross income divided by your entire monthly house payment plus any other debt, particularly on your credit reports, such as credit cards, auto loans, school loans, child support, or alimony.
Although some lenders will accept somewhat higher percentages, many lenders view a percentage of around 36% or below as ideal.
When evaluating whether to approve you for a loan, lenders will consider your monthly debt (the things shown in your credit report).
Radosevich advises adding other monthly expenses and spending patterns when calculating these payment amounts. These include food, gasoline, entertainment, medical expenses, and utilities.
Although lenders don’t examine these factors, you must do so when determining how much of a monthly mortgage payment you can afford.
How Does it work?
Whether it’s because your family is expanding, you don’t want to rent, or you want a change of scenery, you’re ready to discover a new home and may be asking yourself several questions.
Where do I begin, and how do I buy a house? Do not be concerned; we are here to make the procedure as simple and painless as possible.
We’ll give you a head start on buying a home by compiling a list of things to consider as you embark on your adventure. Check off each step as you complete it through the instructions below.
Learn about your financial situation
Knowing how much you can afford and want to spend is crucial when you begin looking for a home at Meritage Homes (as a general rule, you want to spend no more than 30 percent of your monthly gross income on housing).
Determine your monthly budget by looking at your current spending and income. Also, decide how much you want to save for a down payment or how much money from your savings you’re willing to use as a down payment. Use our financial calculators to get going.
Comparing your earnings with the Meritage Homes prices would also help make a more detailed financial plan.
Make a wish list for your ideal house.
According to the Meritage Homes reviews, houses are constructed to the unique taste of their clients. It is essential to list all the things you have ever desired in a house.
Consider the possibilities for size, location, and design. Also, most importantly, list the things you must NOT have in your new house.
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Apply for a loan if necessary
The loan application procedure starts after you are pre-approved and locate your preferred Meritage house.
You’ll have to provide personal and financial information, and your credit report will be pulled and looked at.
Fortunately, MTH Mortgage provides homebuyers with a streamlined and simplified way to finance the house of their dreams, thanks to digital mortgage applications accessible around the clock with Meritage Homes. This way, someone will be on your side the entire time.
For more information, please click here.
Submit everything for final approval
The last stage of this procedure is closing. All the paperwork needed to become a homeowner officially has now been completed, signed, and processed, along with your paid closing costs.
You will receive your keys and become the legal owner of your new house once all of these procedures are finished.
Congratulations!
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How Much Does the Program Cost?
Still on the Meritage homes reviews; let’s look at the cost of the program. A more accessible and cost-effective option to get into the new home of your dreams is available at Meritage Homes.
The program’s features are as follows:
- Low monthly payments tailored to your needs
- Moving in schedules that meet your deadline
- The most recent design trends developed by design experts
- Straightforward price, uncomplicated purchasing procedures, and no unpleasant surprises
- Design that is both costs- and energy-effective.
The program’s housing cost varies depending on the location, design, square feet, and type of home structure.
Let’s take a look at some of the home costs and specifics.
1. Spacious Single Story Room
- Address: The Teton by Meritage
- Sq Ft: 1242
- Price: $360,990
2. Relaxing Primary Suite
- Address: The Cascade by Meritage
- Sq Ft: 1440
- Price: $372,990
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3. North Star
- Address: Community by Meritage Home
- Sq Ft: 1659 – 3100
- Price: $350,990 – $508,818
4. Palmilla Springs – Signature Series
- Address: Palmilla Springs – Signature Series Community by Meritage Homes
- Sq Ft: 1659 – 3050
- Price: $356,344 – $454,682
5. Western Ridge
- Address: Western Ridge by Meritage Homes
- Sq Ft: 1831 – 3050
- Price: $377,990 – $457,944
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Meritage Home Careers
An intimate group of people makes up the Meritage team. This eco-friendly business attracts a specific type of individual, and that shared characteristic creates a great workplace.
For college students or fresh graduates interested in entering the profession, Meritage home also offers a terrific paid internship program.
A surefire method to stand out from the competition is to gain experience with an innovative company like Meritage. However, who knows? You can become obsessed with Meritage’s objective and decide to devote your entire life to it.
If you are interested in joining Meritage Home careers, here are some available jobs.
- Sales Associate
- Land Construction Manager
- Online Sales Consultant
- Land Development Intern
- Customer Care Associate
- Director of Land Development
- Finance Analyst
- Construction Intern
- Division Sales Manager
- Forward Planning Manager
- Transaction Counsel
- Land Acquisition Analyst
- Contract Paralegal
- Marketing Manager
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FAQs About Meritage Homes Reviews
How much revenue is generated by Meritage Homes?
$3.1 billion in the company’s revenue.
Who Are the Major Competitors of Meritage Homes?
The Shaw Group, Beazer Homes, Lennar
Toll Brothers and others are the major competitors of Meritage Homes.
When was Meritage Homes Established?
Meritage Homes was founded in 1985.
What Sector Does Meritage Homes Operate In?
Meritage Homes operates in the construction of homes field.
Conclusion
“To design and create homes that are innovative, built with care and exceptional craftsmanship, which give enduring value,” reads the mission statement of Meritage Homes. For 35 years, Meritage Homes has been the industry leader in this field.
With these detailed Meritage homes reviews, you can start your home-building journey with Meritage homes.
References
- zippia.com – Working at Meritage Homes
- livingmorningstar.com – Meritage Homes
- meritagehomes.com – Meritage Homes
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