A Good Year (2)

Can you imagine, you are sitting at that chair drawing or just laying down enjoying the relaxing afternoon on your off days with a glass of wine maybe anywhere u likes, front yard or back yard of your house ?.. gosh..
you have to watch this movie to know what I am talking about ..

(Source : From A Good Year's movie)




BEFORE YOU APPLY FOR YOUR MORTAGE

1. Two years of tax returns with W-2s.

2. Your Social Security card.

3. Bank and credit statements for the last three months.

4. Current employer information and verification — an employment contract or letter from your employer will probably be required. If you are self-employed, have three years of professionally prepared financial statements or tax returns available.

5. Most recent pay stub showing year-to-date earnings.

6. A list of investments, pension plans, 401k’s, etc., and any other investments.

7. If you choose to include income from child support and/or alimony, bring copies of court records of cancelled checks showing receipt of payment.

There are various fees associated with getting your mortgage, from escrow fees to loan processing fees to title insurance to flood reports. Make sure you are comparing apples to apples if you are shopping around for the best rate. Some financial institutions offer lower interest rates, but charge higher application and processing fees. Don’t be afraid to ask your mortgage broker to put any and all costs on the table before you proceed to apply for your mortgage.

(Complete article can be found at : www. europeanhouseplans.com)

A Good Year (1)

The front yard from A Good Year movie, I love the table and the chair..
and the house.. is so European.. wow




TIPS IF YOU WANT TO BUILD A HOUSE

First thing is, you have to realizing your dream with financing, choosing the fit land, and how to build your dream house

This time, I would like to share some tips I had about financing because this is one of the most important steps in the building your new home. With an adequate budget, your construction project won't fail. FINANCING IS ONE OF THE MOST CRITICAL PHASES OF YOUR BUILDING PROJECT.

What to do :

1.Figure out how much you can afford to spend and how much building your new home is likely to cost (don't forget to budget for landscaping such as decks, patios, windows treatments and furnishings). If you plan to act as general contractor, you will have to obtain a construction loan and a home mortgage. If you have good credit with your bank, you may be able to secure both loans from the same bank. If not, you may have to deal with two different lending institutions.

2. Add at least 10%-15% contingency to the total cost in order to cover the unforeseen changes, additions and upgrades that inevitably occur.

The first loan you should get is the home mortgage, because without long-term financing it will be impossible to get a construction loan and you should consider some important terms you should become familiar with such as Mortgage Payment-to Income Ratio, Total Debt-to-Income Ratio, and Loan-to-Value.

FYI, lenders may use one or combine those methods to find are you qualify for your mortage or not.

(Complete article can be find at : www.europeanhouseplans.com)