Glossary Guide for Homeowners

CHAMP:
This is an acronym that stands for: Conaway Homes Animated Media Publication.  It is a free, interactive online newsletter created and distributed by Conaway Homes to provide inventive ideas, helpful tips, and support resources to homeowners.

Closing Costs
Costs due at the closing of a loan in addition to the price of the property, including (but not limited to):
• origination fee
• discount points
• attorney’s fees
• costs for title insurance
• surveys
• recording documents
• (pre-payment of) real estate taxes
• insurance premiums (held by lender)

Energy Star®:
is an independent US government program establishing a standard set of guidelines to recognize the energy efficiency of various products. ENERGY STAR® guidelines are used in conjunction with a variety of building materials, including windows and patio doors. Conaway Homes provides a comprehensive list of Energy Star certified construction options upon request.

Gift Letter
An affidavit, in the form of an official letter, that indicates that a portion of a borrower’s home down payment is supplied by friends or family in the form of a “gift” and that the gift does not have to be repaid.

GMP:
Graduate Master Builder – a prestigious designation issued only to seasoned professionals by the National Association of Home Builders. Before beginning the GMB designation process, a builder must first have other designations (the CGB, the CGR or the CGA) with five years of building experience, or ten years of building experience and have completed three CGB/CGR/CGA courses. GMB courses are more advanced with in-depth instruction geared for experienced building professionals.  Both Brent and Brian Conaway are GMP certified.

Quick Delivery Homes:
This refers to the Conaway built homes that are available for immediate purchase.