Q: Do I have to use your Preferred Lender for my loan?
No. You may use any lender you choose to obtain your new home loan. We do however, require that you use one of our Preferred Lenders to obtain your loan pre-approval qualification.

Q: Can I pay all cash for the home?
Yes, you can certainly pay all cash for your home; however, we still require that you obtain a pre-approval/verification of funds letter from one of our Preferred Lender's for qualifying purposes.

Q: Does obtaining the pre-approval qualification and getting on the waiting list obligate me in any way?
No. You are not required to show up on release day or obligated in any way to purchase a home from Ponderosa. There is no deposit required until you sign an offer to purchase and deposit receipt. The Priority Waiting List is only a way for us to provide a fair and orderly process for interested and qualified buyers to purchase a home.

Q: Where should my pre-approval qualification letter be delivered?
After a sales release date has been announced on our sales office voice-mail system, you can contact one of our Preferred Lenders for a pre-approval letter. Once you have contacted one of our Preferred Lenders, and they have issued a pre-approval qualification letter for you; it is your responsibility to deliver it to the Community Sales Manager at our sales office. You can deliver it in person, fax or mail it to the Community Sales Manager at the sales office. Each letter will be logged in with the date and time it arrived in our sales office. Please do not send your pre-approval letters to our corporate office in Pleasanton or Palm Desert, as there is no one available to date and time stamp them. Ponderosa builds in various locations throughout California, so it is your responsibility to get your pre-approval letter to the Community Sales Manager at the community where you are interested in purchasing a home. Please do not bring your pre-approval letter to our sales office until a release date has been established for the phase that includes the home you wish to purchase.

Q: How will I know that you have received my pre-approval qualification letter?
It is your responsibility to follow up with the Community Sales Manager at the community where you are interested in purchasing a home, to make sure that they have received your pre-approval qualification letter. We suggest that you call the Community Sales Manager within 48 hours of the Preferred Lender's notification that the pre-approval letter has been sent out.

Q: How do I know what amount the pre-approval should be for if pricing has not yet been released?
In general, we try to establish a preliminary price range for a community, several weeks prior to our initial sales release. While this price range is preliminary and can change right up to the release date, it will give you a general idea of where the pricing will be.

It is important that you check with your Community Sales Manager to find out if a preliminary price range has been established for the floorplan that you are interested in. It is our recommendation that you get pre-approved for the maximum amount you can qualify for, keeping in mind that you should also add possible options you may wish to select from our design center, to the base purchase price range established for the community. The Community Sales Manager can give you an estimate of what the base prices and optional upgrades are likely to be.

Q: Can I wait for a subsequent sales release?
If you do not purchase in the current sales release, you can certainly wait to purchase in a subsequent sales release; however we do not carry over the existing priority waiting list for subsequent phases, the process must be started again for the next phase release. While it is currently our process to release homes on a first come, first serve basis in the manner described above; Ponderosa Homes reserves the right to change the release procedures at any time.

In the event that you do not purchase in the current phase release, or choose to pass once you review the available homes and lots in this release, you must renew your position on the Priority Waiting List for the next phase, when a new phase release date is announced on our voice mail system and a new Priority Waiting List is created.