We purchased a home from LGI homes in West Phoenix approximately a month ago. We did our research before signing a contract and read every review of LGI on this website, BBB, and their facebook page and have come to 3 conclusions: either we lucked out and the sales team in our area is outstanding and knows what they are doing, the rest of the home sites in other areas/states hire inept and rude people who have no idea how to sell a home, or most consumers actually have no idea what goes into the home buying process.
It is long and stressful, you have to have proof of EVERYTHING financial, and be prepared to jump through hoops and then even more hoops. This was our second attempt (and successful!) attempt at buying a home with LGI. Our first attempt was with a USDA-backed loan last year that fell through after the lender approved our loan, sent the file to USDA for approval, and a manual review/audit with USDA determined 10 years down the road one of our student loan payments would have put us over the DTI ratio and made our mortgage payment unaffordable by $100. 10 years down the road. This was not anything LGI nor the lender foreseen or calculated as the underwriting department approved us (a smart company is not going to do all the work that goes in to underwriting and then send a bad loan package to USDA for review). We were in a short term lease at the time and had no way to extend and had depleted savings so paying down bills to meet the forecasted DTI was not an option so we had to walk away from the first home and LGI refunded our $500 earnest money within 2 business days since the loan was not able to be financed (we had good credit going in to this purchase attempt so we did not need LGI's credit repair program).
Fast forward over 6 months later we started the process over again after paying down some bills, consolidating and lowering our student loan payments, still having good credit scores (620+), only using an FHA loan. Again we submitted our $500 earnest money, supplied all necessary documents to the lender, saved our funds for down payment. Our closing was pushed back by a week because we were a few hundred dollars short on our down payment at the time it was due, LGI worked with us, the lender got our approval and in June we signed our mortgage documents.
Since moving in we've only had 3 minor issues- the master bathroom door needed adjusting because it was rubbing at the top of the door jam, a 2-way light switch in the hallway was not wired correctly, and a plant died in the front-landscaping. All 3 items were taken care of within 3 business days of submitting the warranty request on LGIs website. Our biggest complaint after moving in? We're not used to having a carpet-to-tile transition and keep inadvertently stepping on the transition areas and occasionally a toe or two will hit a tack strip. I haven't managed to hit that area in days now.
My advice for anyone looking to buy an LGI home, or even any home? Look in to the home buying process and know what you're getting yourself in to. My spouse and I (both in our early 30's) knew what we wanted and went for it. Listen to your lender carefully. Ask questions. Once you sign your purchase contract don't open accounts, buy furniture on credit, or take out new student loans, don't close accounts, don't overdraft on your bank account or credit cards, don't change jobs. Keep everything the same until after you sign your closing documents. Be prepared to submit bank statements, letters of explanation, pay stubs, tax forms. Your lender should explain all of this to when you have your meeting after signing your purchase contract. Read your contracts to see if you are entitled to your earnest money back if you decide to walk away from the purchase or are unable to get financed (every contract is different) and if you don't understand it- ASK QUESTIONS!