Mortgage Choices Presents: Ask Nick!
Finding the right mortgage is one of the most important steps of buying a new home. To help you prepare for what may be your biggest purchase ever, we’re launching “Ask Nick!” This Q&A series is designed to help teach you all about shopping for and finding a mortgage.
Nick Peacock, Beazer’s Vice President of Lender Choices, will answer your questions about shopping for a mortgage and comparing the information that you receive.
Nick has more than 27 years of experience in the mortgage industry. More importantly, he knows a lot more than the average Joe when it comes to navigating the mortgage waters. Nick is devoted to helping consumers understand our Mortgage Choices program, which encourages everyone to shop around for the home loan that best fits their needs.
We’re kicking off our first “Ask Nick!” with a few questions about the mortgage process from our own employees who are currently going through the home buying process. In this edition, Nick explains the differences between lenders, and the upcoming changes to FHA loans.
Q. Sarah: Do different lenders really make a difference – aren’t they all the same?
A: They are definitely NOT all the same! They vary in terms of their loan programs, underwriting guidelines and processes. While most lenders underwrite their loans according to agency (FHA, VA, FNMA, etc) guidelines, many have unique “overlays” that make it more difficult for a borrower to qualify. For example, some lenders may offer FHA loans to borrowers with credit scores of 600, while others will not approve borrowers with scores below 640. Rates and fees can also vary from one lender to another. It definitely pays to talk with several lenders to find the one that is right for your personal circumstances and needs.
Q. Bonnie: Explain the new regulations on FHA loans that are coming up. Who qualifies? What are the advantages compared to a conventional mortgage?
For example, we were able to get a conventional mortgage while only putting 3.5% down, but we had to pay mortgage insurance. What are the pros and cons to doing that?
A: The major changes that have been made to the FHA loan program impact the cost and duration of the annual mortgage insurance. After June 3rd, FHA borrowers will be required to pay mortgage insurance for the life of the loan, and at a rate of 1.35% – which is much higher than on a conventional loan. While interest rates are generally lower on FHA loans, the higher mortgage insurance often will make them more expensive. Borrowers with excellent credit will likely do much better with a conventional loan.
Now is the time to tell us what you want to know about mortgages. Not sure what APR is? Ever wonder why people shop around to find the best deal on a new car, but don’t shop around to find the best kind of mortgage? Did you know you CAN shop around for a mortgage?
Let’s hear from you!
We’re always taking your questions. You can email them to us at AskNick@beazer.com. Nick answers every question, so you’ll be sure to get a personal response.
Even if you don’t have a specific question for Nick, you can still learn more about buying a mortgage. Every week, we’ll post some of the “Ask Nick” questions and answers on our blog, Facebook, and Google Plus. Don’t forget to follow along on Twitter with the hashtag #AskNick.
We’re looking forward to your questions!
* Beazer Homes is not acting as a mortgage broker or lender. Homebuyers should consult with a mortgage broker or lender of their choice regarding mortgage loans and mortgage loan qualification. ©2013 Beazer Homes
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Step 1: Finding a New Home
So you’ve decided to buy with Beazer and you’ve chosen a great community. Now you’re ready to pick out a floor plan and find a home site.
Finding a new home and deciding on options for your new house is exciting, but the process can be difficult without a little help.
When you walk into our sales center, a new homes counselor, or NHC, can help you pick out a floor plan. Whether you plan to have frequent visitors or want the master bedroom on the main floor, your NHC can help you identify the ideal home layout that works best for your lifestyle.
After you choose your floor plan, you and your NHC can visit a model home together to get a better sense of the features you can include in your newly constructed home.
Finding a Home site
You’ve got your floor plan, now it’s time to find your home site. Working with the NHC, you can determine the elevation or exterior façade of your home. Stacked stone, brick, vinyl siding and paint colors start to really make it feel like your home. The exterior design of your home isn’t the only feature you can choose. Other important things to think about when picking your lot are its proximity to the community’s clubhouse, community landscaping, and the view you’ll have once your home is complete.
Structural options
In addition to choosing the layout of your home, you can also personalize the structure of the rooms in your new house. Whether you want to change a bedroom into an office or add a screen porch, our flexible floor plans also give you the option of personalizing your home’s design to fit your daily activities.
Don’t plan on starting from scratch?
You can still buy a Beazer home if you aren’t planning to build from the ground up. Homebuyers can walk into a new home sales center and choose from an available spec home in the community of their choice. This allows for a shorter time before moving in, but still allows you to pick out certain features like cabinetry, countertops, or flooring. Some communities even have move-in ready homes for those that need to get settled more quickly.
So whether you plan to go through the process of building a new house from scratch, or plan to choose an available spec, Beazer can help you find and design your ideal home.
Do you have any questions about our home-finding process? Let us know in the comments!
Leave a commentMortgage Choices Presents: How to Shop for a Mortgage
After several difficult years, the housing market is on its way to recovery, and homebuyers are making their way back to real estate. However, a significant amount of homebuyers don’t know the basics of taking out a mortgage and aren’t prepared to take on what could be the biggest purchase of their lives.
According to a survey by real estate website Zillow, nearly one- third of homebuyers do not understand how to secure the best possible home loan and rates, including shopping around to find the best mortgage.
Here’s some data from the survey:
- 34% of the first-time homebuyers who took the survey don’t know that it is possible to get a home loan with a down payment of less than 5%.
- 34% of the potential homebuyers polled don’t know what the term “annual percentage rate” means
- 26% of the homebuyers polled believe they are obligated to chose the loan with the same lender that pre-approved them
“All too often, buyers focus on negotiating a lower home price and ignore the importance of finding the right loan. If a homebuyer can lower their interest rate by even half a percentage point, they can not only increase their purchasing power, but save thousands of dollars over the life of the loan,” said Erin Lantz, director of mortgages for Zillow.
“Buyers should always shop multiple lenders and compare rates and fees, and read lender reviews in order to find the best loan for their situation,” said Lantz.
If you’re looking for a Beazer home, you’re already taking the first step to finding the mortgage that is right for your lifestyle and expenses. At Beazer, we’ve created our Mortgage Choices program. Unlike builders who only supply one in-house lender, we give homebuyers the option to choose their own lender from a list of preferred lenders.
Over the next few weeks, we’ll be taking you step-by-step through how to shop for a mortgage and compare lenders once you get the quotes. You’ll learn:
- Basic mortgage terms
- Difference between popular loans
- Questions to ask potential lenders when shopping
You’ll also get the chance to ask us some questions. On May 22, we’re launching our “Ask Nick” Q&A on our Facebook page. Nick Peacock, Beazer’s Vice President of Lender Choices, will answer your questions about finding the right mortgage. Nick’s experience in the mortgage industry is vast, and he knows way more than the average Joe trying to wade through the mortgage waters.
In the meantime, test your knowledge of mortgage basics with Zillow’s online interactive quiz. After the quiz, you’ll receive a score and a list of resources to learn more about the mortgage process.
What questions do you have about finding a loan program? If you’re already a homeowner, what did you compare when you shopped for a loan? Let us know in the comments.
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Get Your Mortgage Ducks in a Row: What you need to know before you shop for a mortgage
A mortgage loan is one of the most expensive financial commitments you will ever make. Before you begin to shop around and compare mortgages, you need to do some prep work. Here’s a short list of what you need to know before you shop for a mortgage.
Check Your Credit
A lender is going to start with your credit score, so you should start by knowing exactly what is on your credit report before going to get a mortgage.
Request a free copy of your credit report from all three reporting bureaus: Experian, Equifax and TransUnion. Be prepared to go over each document looking for any errors or charges that don’t look like they belong. Don’t forget to look for smaller errors as well, such as incorrect credit limits, small bills that were reported late, or bill balances higher than they really are.
Determine How Much You Can Afford
After reviewing your credit report, evaluate your personal finances. If you haven’t already, create a budget to estimate the costs you currently have. This will give you an idea of the additional monies you have to put towards a new mortgage, insurance, and property taxes.
You’ll also want to account for monthly maintenance fees and possible homeowners association dues (HOA). Make sure to add in other monthly expenses such as utilities and even non-house related expenses such as car insurance and credit card bills. Plan ahead the best you can to make sure you have the full view of expenses and will be able to maintain the monthly payments for several years, leaving room for emergencies.
Know Who You’re Working With
Before you review your personal finances with a broker or lender, learn some basic banking and mortgage terms such as annual percentage rate and up front mortgage premium. Getting familiar with these terms will be a useful starting point for knowing what kind of questions you need to ask when you visit a lender.
Buying a house can be complicated, but going in with your eyes open will make you feel confident and secure with the next steps. Spend some time preparing your finances and learning about the process, and you can cut down on a lot of confusion down the road.
Do you have any tips for preparing to buy a home? Let us know in the comments.
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Happy Earth Day from Beazer Homes!
What are your plans to celebrate today? What? You don’t have any? That’s ok! If you are already living in Beazer home, or planning to buy one, you are already doing your part to be energy efficient.
In fact, because we build 100% of our homes to be ENERGY STAR® certified, we have saved the environment 180,034,423 pounds of CO2 since 1998. That’s a lot of emissions saved just from living in an energy efficient new home, as opposed to an older home. It’s also a lot of monetary savings in our homeowner’s wallets!
In addition to just simply living in one of our homes, there are several other simple ways that you can celebrate Earth Day and do your part. Check them out!
- Switch out an incandescent bulb for a CFL. This could save you $6 per year, or $40 over the lifetime of the bulb. Now multiply that by every bulb in your home. Carry the 2, divide by…well, you get the point. A little bit here, a little bit there…it adds up!
- Go thrifting. Instead of going to buy a new dress or serving platter for your house from the department store, hit up your local second-hand shop to reduce and reuse.
- Pick up a piece of litter. Walking around your office parking lot or neighborhood tonight or later this week? Pick up that trash you see. We all come across it. Just pick it up and pocket it until you return home where you can properly throw it out.
That’s it. Three small things you could do to celebrate Earth Day, other than living in an ENERGY STAR certified home, that is!
For more information on our energy saving home features and building practices, check out our Energy Savings playlist on YouTube.
Happy Earth Day!
What do you plan on doing to celebrate Earth Day?
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Visit Beazer Communities During NAR’s 2013 Nationwide Open House
If you’re in the market for a new home this year, mark your calendars this weekend for one of the nation’s biggest events for potential home buyers.
Saturday, April 20 and Sunday, April 21 are the dates for this year’s National Association of Realtors’ Nationwide Open House weekend. Every year, the Nationwide Open House brings together realtors and potential home buyers to help boost sales of new and existing homes. During the two days, realtors will be on hand to answer questions about the home buying and ownership process, as well as showcase houses in a number of different markets.
We’re happy to announce several Beazer communities will have houses open for viewing this weekend. Below is a list of our divisions that are participating. Be sure to check our division Facebook pages for updates.
Charleston: Enter for a chance to win a $100 Amex gift card when you visit one of our six homes in Charleston. Open for viewing from 2pm to 5pm on Saturday and Sunday, visitors will be able to tour the houses and fall in love with these new homes.
For more information, contact:
Katie Varin – Regional Marketing Manager
Beazer Homes – South Carolina
4401 Belle Oaks Drive, Suite 210 | Charleston, SC 29405
Office: 843.746.6531 | Cell: 843.475.7311
Email: kvarin@beazer.com
Facebook page: Beazer Homes Charleston
Dallas: Our Dallas team will have everyone “ooh-ing and ahh-ing” at all their completed model homes and spec homes. Don’t forget to grab a few snacks while you have a look around!
For more information contact:
Rebecca Gibson
Sales & Marketing- Beazer Homes Dallas
972-250-5515
1750 Valley View Dr. Suite 200
Dallas, Texas 75234
Email: Rebecca.gibson@beazer.com
Facebook page: Beazer Homes Dallas
Houston: In the Houston area? Stop in at one of our 20+ communities to see the various styles and floor plans that meet your lifestyle or family’s needs.
For more information, contact:
Raychelle Muhammad
New Home Information Manager
Beazer Homes – Houston Division
10110 West Sam Houston Parkway North, Suite A-100 | Houston, Texas 77064
Office: 281.897.2149 | Cell: 281.850.8628
Email: raychelle.muhammad@beazer.com
Facebook page: Beazer Homes Houston
Indiana: Our Indy team is bringing the heat and invites you to cool off in decorated models in the Indianapolis, Columbus and Bloomington areas. They’ll have houses open for viewing on both days this weekend.
For more information, contact:
Andrea Hastings
New Home Information Manager
Beazer Homes – Indianapolis-Bloomington-Columbus
9202 N. Meridian St. Suite 300 | Indianapolis, IN 46260
Cell Phone: 317.313.9216
Office: 317.569.3587 | Fax: 317.569.3525
Email: ahasting@beazer.com
Facebook page: Beazer Homes Indianapolis
Nashville: If you’re in the Nashville area, stop by to visit one of our nine communities and snag some snacks and goodies from our Beazer Nashville team. Whether you are looking to upgrade or downsize, check out a range of home designs and floor plans that suit your lifestyle. Viewing hours are Saturday from 11am- 6pm and on Sunday from 1pm-6pm.
For more information, contact:
Ashley Seaman
New Home Information Manager
Beazer Homes- Nashville
1018 Elm Hill Pike| Nashville, TN 37210
Office: 615.244.9600 Ext. 139| Cell: 615.507.4843
Email: ashley.seaman@beazer.com
Facebook page: Beazer Homes Nashville
New Jersey, Delaware, Pennsylvania and New York : Meet the Beazer Team and prepare your future move into one of our beautiful homes in the New Jersey, Delaware, Pennsylvania, or New York areas. The sales team will provide snacks for open house visitors on Saturday and Sunday.
For more information, contact:
Jennifer Agadzhanov
New Home Information Manager
Beazer Homes – NJ, DE, PA & NY
Phone: 856-431-7060 | Toll Free: 800.924.6985
Email: Jennifer.agadzhanov@beazer.com
Facebook page: Beazer Homes New Jersey
Orlando : Our division in Orlando will have inventory specials throughout the Orlando area. Stop by on Saturday from 12pm-4pm to browse our available homes and enjoy some light refreshments!
For more information, contact:
Colleen Gomez
Regional Marketing Manager
Beazer Homes- Florida
9432 Camden Field Parkway| Riverview, FL 33578
Office: 813.635.2803| Cell: 813.505.5490
Email: colleen.gomez@beazer.com
Facebook page: Beazer Homes Orlando
Raleigh: Stop in to one of our Raleigh spec homes over the weekend and enjoy some light refreshments from 1-5pm on Saturday and Sunday.
For more information, contact:
Beth Byrd – Broker/REALTOR
New Home Information Manager – Raleigh
4509 Creedmoor Rd., Suite 200 | Raleigh, NC 27612
Office: 919.277.2379 | Cell: 919.669.8295 | Fax: 919.277.2389
Email: bbyrd@beazer.com
Facebook Page: Beazer Homes Raleigh
Tampa: Ready for a summer-move in? Stop by the communities in our Tampa division on Saturday from 12pm to 4pm to browse our available homes and snack on some light refreshments.
For more information, contact:
Colleen Gomez
Regional Marketing Manager
Beazer Homes- Florida
9432 Camden Field Parkway| Riverview, FL 33578
Office: 813.635.2803| Cell: 813.505.5490
Email: colleen.gomez@beazer.com
Facebook page: Beazer Homes Tampa
When you stop by any of our open houses over the weekend, don’t forget to check in on Facebook or Foursquare!
We will update this post throughout the week as more divisions add information about Open House events. Also be sure to check the Beazer Homes Facebook page and follow @BeazerHomes on Twitter for additional updates.
Leave a commentHave a Kid-Friendly Move: Tips for Moving With Kids
There is no denying moving can be a chaotic experience for the entire family, especially for children. A lot of families try to ease the stress of moving on kids by planning to move into a new home during the summer when children are out of school.
But all of the packing, driving, and unpacking can still be stressful for small children. To make the process easier on the little ones, here are some tips for moving with kids.
Before the move: Get Familiar
Get your child acquainted with your new neighborhood and house. Help children visualize and get familiar with their new home before the move. If you can’t take your child to visit the new house in person, make sure to have pictures on hand of both the inside and outside of the house.
Once you show the pictures, kick the visuals up a notch by getting your child involved in the design process.
Here’s one creative idea: Get a dry-erase board with colored markers. Draw a blueprint-like sketch of your child’s room. Tell your child to draw in where he/ she wants certain items to go, such as a toy trunk or cubby compartment.
During the move: Keep them occupied
If your new place is nearby, ask relatives or family friends to keep the kids for a day while you get the heavy lifting out of the way.
Also, if you can, get your cable or internet set up so kids can stay occupied and in one place during move-in.
Moving is the worst time to try and find a lost personal item, so be sure to keep track of special possessions. If your child has a favorite toy or article of clothing, make sure not to pack it in the boxes you don’t plan to unpack immediately. For children that have several items they can’t go without, designate a separate box for these items with a clear label.
After the move: Keep the routine
While it may be difficult, try to maintain a family routine. If you normally go out for pizza on Wednesday night, try to stick to the habit. If Tuesday night is taco-making night, be sure to have everything on hand to make the weekly dish, including the pots and pans.
Have you ever moved your children into a new home? If you have any helpful tips, leave them in the comments below.
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New Home or Resale? New Homes Month May Help Sway Your Decision
Do I want an existing home? Or do I want a brand new home? These are common questions that many homebuyers grapple with during the early stages of their home search. During the month of April, the National Association of Home Builders (NAHB) is sharing some of the advantages of buying a newly built home in hopes to sway buyer preference.
A recent survey from the NAHB shows that new homes generally do a good job of satisfying a potential homebuyer’s desires for cost and living space.
Used home repair costs can add up quickly, so can expenses for both remodeling and new appliances. When you buy a newly constructed home, you have the chance to pick the features that are most important to you. You can personalize your future home by choosing a floor plan that suits your lifestyle depending who will be living in the home. Or pick more modern details, such as granite countertops or larger bathrooms. If you buy a previously owned home, you may have to settle for whatever you can find on the market, instead of buying a home that is truly built to your liking.
The convenience of a newly built home doesn’t stop at choosing your interior design. According to NewHome Source, newly constructed homes are more energy efficient than homes built just five years ago. New homes tend to include energy saving features such as double-pane windows, which can reduce energy costs as the seasons change.
If you want to know more about the advantages of buying a newly built home, NewHome Source has designed a special interactive website for users to explore the benefits of buying new. Throughout the month, we will also be listing the advantages of new homes here on our blog.
What is one feature you can’t live without in a home? Is it large closet? How about a spacious bathroom?
Grand Openings: Four New Home Communities for the Spring
Beazer Homes is setting up for a busy spring. In the next few months alone we’re opening four new communities, one in Texas and three in California.
In Texas, Prestwyck will host a grand opening on April 13. Located 30 miles north of Dallas in the city of McKinney, this community has a small town feel, different from the rush of the city. These single family homes with three to four bedrooms are priced from the $180s.
- Public Grand Opening: Saturday, April 13 | 11a.m. – 3 p.m.
Prospective homebuyers are invited to tour the community and model home of Prestwyck. The grand opening event will also feature entertainment, lunch, and giveaways. For more information or to RSVP, call Rebecca Gibson at 972-250-5515 or email rebecca.gibson@beazer.com.
In California, we’re celebrating the grand opening of three new communities.
Hearthside Lane community is in Eastvale, one of Western Riverside County’s newest cities. This community features large homesites and expansive floorplans to suit various lifestyles.
- The city of Eastvale is known for its parks, and The Hearthside Lane is less than three miles away from American Heroes Park. Less than a year old, the park has an enclosed space for dogs, as well as space for family outings and play areas for children.
- Public Grand Openings: Saturday, May 11 | Time T.B.D.
We’re also welcoming two Citrus park communities: The Gallery at Citrus Park and The Collection at Citrus Park.Personalize any of the energy efficient homes in either community and make them your own by choosing the exterior (or elevation), and multiple other features from flooring to cabinets.
- Great news for prospective homebuyers with kids and growing families: the Citrus Park communities are less than four miles away from Disneyland.
- Public Grand Openings:
- The Gallery at Citrus Park: Saturday, June 22 | Time T.B.D.
- The Collection at Citrus Park: Saturday, July 6. | Time T.B.D.
For each of these CA communities, we will unveil the decorated model homes. Prospective homebuyers are also invited to tour the communities.
For more information or to RSVP, call Cindi Peterson at 916-746-8360 or email cpeterso@beazer.com.
If you’re seriously looking to buy a new home, don’t miss this great opportunity to own a new home in a brand new community!
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Energy Efficient Home: What Does That Mean?
At Beazer, we take extra steps to ensure that 100% of the homes we build meet and exceed ENERGY STAR® requirements.
You’ve probably heard the term “energy efficient” when referring to household appliances, but do you know what it means to live in an energy efficient home?
Energy efficiency can mean different things to different homebuilders. At Beazer, it means a devotion to building well-built homes that lower energy bills and save our homeowners money. We go the extra mile to install features that help reduce energy use.
To help retain heat and reduce drafts, we use Tyvek ® HomeWrap® to seal the exteriors of our homes. The wrap prevents walls from absorbing excess water during severe weather and protects the home from harsh elements, such as wind and rain, which can damage its exterior.
We also install six-point installation in Beazer homes, and strategically place the heating and cooling systems to minimize the amount of energy they need to operate.
When the building process is complete, we ask independent energy raters to inspect each home to give it a home energy rating, or HERS score. The lower the score, the more money our homeowners can save.
Watch the video below, and learn from Beazer homeowners about the difference they saw in their energy bills after move-in.
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