Coastal Bend New Homes Vol.1 #1 (Feb-April 2018) by New Homes South Texas

Wow Factor For Sale — PAGE 8 | Mortgage Shopping 101 — PAGE 12 | The Right Size A/C — PAGE 16

CoastalBendNewHomes.com

Award-Winning Recognition for Outstanding Craftsmanship PAGE 10

Volume 1 Issue 1 — February/March/April 2018

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RELOCATING?

The Best Place To Start Your New Home Search Is With A Housing Guide. CANADA

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Eastern Shore New Homes Guide NewHomesGuide.com DISTRICT OF COLUMBIA

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Las Vegas New Homes Guide LasVegasNewHomesGuide.com NORTH CAROLINA

Grand Strand / Myrtle Beach New Home Guide GrandStrandNewHomeGuide.com

Wow Factor For Sale — PAGE 8 | Mortgage Shopping 101 — PAGE 12 | The Right Size A/C — PAGE 16

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Volume 1 Issue 1 — February/March/April 2018

TEXAS

Coastal Bend Coastal Bend New Homes Guide CoastalBendNewHomes.com Rio Grande Valley RGV New Homes Guide RGVNewHomesGuide.com

Washington DC Metro Area New Homes Guide NewHomesGuide.com

Greensboro / Winston Salem / High Point New Home Guide TriadNewHomeGuide.com

San Antonio San Antonio At Home SAAtHome.com

GEORGIA

SOUTH CAROLINA

Atlanta Communities Magazine AtlantaCommunities.com

Charleston Greater Charleston New Homes Guide NewHomesGuideCharleston.com

Northern Virginia New Homes Guide NewHomesGuide.com

Award-Winning Recognition for Outstanding Craftsmanship PAGE 10

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@coastalbendnewhomes New Year, New Home, New You — page 14 | Mortgage Shopping 101 — page 16 | Why & How To Tour Model Homes — page 20

Volume 26 Issue 1 — Dec. 2017 / Jan. 2018

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VIRGINIA Custom Homes That Impress The Soul. SEE PAGES 5 & 23

WaldoHomesRGV.com • (956) 466-8590

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Feb/Mar/April Volume 1 Issue 1 PUBLISHER Across Media Marketing, LLC

Contents

EDITOR-IN-CHIEF Jose Vielma

February/March/April 2018 - Volume 1 Issue 1

SENIOR EDITOR Barbara Zapffe SALES MANAGER Jose R. Vielma CREATIVE DIRECTOR Laura Soria GRAPHIC DESIGNER Jeremiah D. Nava

BUILDER INDUSTRY NEWS 6 6

New Model Coming To Lago Vista

ENERGY EFFICIENCY 16

Demand A Right-Sized A/C An over-sized unit will increase your utility bill

City of Corpus Christi Introduces Online Inspection Scheduler

and create an uncomfortable space. Don’t do it.

Shoreline Vista Phase 2

Hurricane Harvey Relief

Cover Feature: Newcastle Homes

Wow Factor For Sale

New Home Communities Map

SPECIAL SECTIONS

Color coded maps with the most up-to-date

HOMEBUYING ADVICE 12

Mortgage Shopping 101

listings of new home communities in the area.

New Home Communities

Shopping for the right home also means you’ll

At a glance, look at everything you need to

have to shop for the right mortgage. Start here.

know: prices, photos, plats, maps, descriptions, and contact information. Download flyers / lot

Why Buy New?

sheets at www.CoastalBendNewHomes.com

Consider the pros and cons. You’ll be glad you read this article before making your decision.

Furnished Model Home Listings

DISTRIBUTION MANAGER Ken Sabe THE COASTAL BEND NEW HOMES GUIDE (NHG) is a quarterly publication of Across Media Marketing, LLC. and is provided to its readers free of charge. Unless otherwise noted, all photography, artwork, and editorial content printed in NHG are copyrighted material and may not be duplicated or reprinted without express written permission. NHG and Across Media Marketing, LLC. are not responsible for typographical or production errors, or for the accuracy of information provided by the advertisers. Opinions expressed by writers and contributors do not necessarily represent the opinions of the publisher. NHG reserves the right to refuse any advertising which we deem unsuitable for our publication. EQUAL HOUSING OPPORTUNITY All real estate advertising in this magazine is subject to the Federal Fair Housing Act of 1968 and the Amendments Act of 1988 which makes it illegal to advertise “any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin, or an intention to make any such preference, limitation or discrimination.” This magazine will not knowingly accept any advertising for real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertised in this magazine are available on an equal opportunity basis. To complain of discrimination, call HUD tollfree at 1-800-669-9777 or contact HUD’s regional office in Ft. Worth, Texas at (817) 885-5521. The telephone number for the hearing impaired is 1-800-927-9275. The Coastal Bend New Homes Guide is published quarterly by: Across Media Marketing, LLC. 1601 N. 8th St. • McAllen, Tx 78501 FOR ADVERTISING RATES AND INFORMATION: (956) 971-9700 coastalbendnewhomes.com

Find address, contact information, and hours of operation. Visit these model homes and “feel” which one is right for you.

ON THE COVER NEWCASTLE HOMES

— Meet a company with a reputation for building homes that stand out above others

when it comes to beauty, quality, and efficiency. Read the feature on page 10.

CoastalBendNewHomes.com | February/March/April 2018 | Vol. 1 Issue 1 | For advertising call (956) 971-9700

@coastalbendnewhomes

DREAM. DESIGN. BUILD.

OVER 20 YEARS OF CUSTOM HOME BUILDING FOUNDED ON EXCELLENCE.

BUILD ON YOUR LOT OR OURS

CALL (361) 850-9153

LIVEOAKCUSTOMHOMES.COM SEE MORE ON PG. 20

Guarantees are only as good as the people who give them.

Roofing

Getting a guarantee from just anyone that your home is energy efficient is not the same as getting a guarantee from a home energy rater licensed by the Residential Energy Services Network (RESNET).

Insulation

HVAC

Lighting

Home Energy Raters are trained home energy inspectors who use specialized equipment and software to inspect, test, and verify that a home has met the requirements of such programs as DOE Zero Energy Ready Home; ENERGY STAR®; EPA Indoor airPLUS; BUILT TO SAVE™; and Coastal Bend Green Built.

Windows

Water Heating

P R O F E S S I O N A L H O M E E N E R G Y R AT E R S Ask your builder if your new home has been rated. GULF COAST ENERGY RATERS Scott Martin (361) 653-2410 scott@acdi.us

Michael Valenzuela (361) 834-5383 michaelvalenz22@hotmail.com

Certifications: Home Energy Rater, RESNET Member, RESNET Field Inspector, RESNET Green Rater, and ENERGY STAR® Version 3 RTIN: 3123873

Certifications: Home Energy Rater, RESNET Member, RESNET Green Rater, BUILT TO SAVE™ Rater, and ENERGY STAR® Version 3 RTIN: 3568607

HOMES CERTIFIED “BUILT TO SAVE™” ARE MORE ENERGY EFFICIENT THAN SIMILAR HOMES BUILT TO CODE. • • • • • •

Lower Utility Bills Better Indoor Air Tighter Construction Less Maintenance More Home Comfort Certified by a Third Party

The Blower Door Test and the Duct Blaster Test are used to calculate a home’s Energy Rating Index (ERI)—also referred to as the HERS score). Like miles per gallon (MPG) which measure the fuel efficiency of a car, an ERI score is an excellent predictor of a home’s energy efficiency—the lower the score, the higher the efficiency. BLOWER DOOR TESTS measure the leakiness of the home’s envelope— how much air comes in and goes out through the roof, windows, doors, and other openings in the home. Required by code after Sept. 1, 2016.

DUCT BLASTER TESTS measure leaks in the joints and seams of the ductwork in the heating, ventilation, and air-conditioning (HVAC) system. Required by code after Sept. 1, 2016 unless in conditioned space.

Builder Industry News

BUILDER INDUSTRY NEWS Live Oak Construction Announces New Model Coming Soon in Lago Vista LAGO VISTA IS A SERENE COMMUNITY with a countryside atmosphere surrounded by 5 private lakes on over 30 total acres. The new phase, Unit 3C, offers homes from the $400’s and spacious homesites (½ acre to ¾ acre) from the $90’s with King Ranch frontage and waterfront views. Residents can enjoy a private lakeside pool and outdoor clubhouse. Lago Vista’s neighborhood highlights include a striking waterfall entry, fountain, lakeside park, private dock, shaded deck, and modern playground for the kids. Live Oak Construction’s new furnished model home will be available for viewing mid-April in Lago Vista and will feature an open concept floor plan with innovative and creative designs. See Inside Back Cover.

City of Corpus Christi Development Services Introduces Online Inspection Scheduler THE CITY OF CORPUS CHRISTI DEVELOPMENT SERVICES DEPARTMENT recently improved its online permitting processes for the convenience of residents. The new program will make scheduling a home or business inspection much faster by eliminating the requirement for paper plans. All scheduling requests will be done electronically. The improved online permitting system, which is referred to as the Inspection Scheduler Online, is now up and functioning, and can be found on the City of Corpus Christi Development Services’ website at: www.cctexas.com/schedulingoptions To begin the online scheduling process, you will need to input your permit number and the date you need the inspection done. For questions about the new process, please contact Tanya Rojas, Senior Functional Analyst, at (361) 826-3570 or at TanyaR@cctexas.com. Visit liveoakcustomhomes.com for more information.

Coastal Bend New Homes Guide

Victims of Hurricane Harvey Still Need Help. Let’s Be Coastal Bend Strong!

Plans Underway for Shoreline Vista Phase 2 LIVE OAK CONSTRUCTION is now pre-selling lots in Phase 2 of Shoreline Vista in Flour Bluff. This wonderfully appealing community in the top-rated Flour Bluff Independent School District has an excellent location only minutes away from the Naval Air Station Corpus Christi, H-E-B Food Store, Wal-Mart, and the Post Office. Shoreline Oaks is near the SPID freeway, offering easy access to malls, restaurants, theaters, and Gulf beaches. Residents of this intimate community enjoy a neighborhood swimming pool with a children’s water area and park. A Homeowners Association will ensure all common areas are properly maintained for enhanced beauty. Phase 2 will offer lots from $40K to $65K, and will include waterfront lots with beautiful views of Oso Bay. Future plans include a family-friendly waterfront park.

Call Elizabeth Anguiano at (361) 937-5668 for sales information on Shoreline Vista or to reserve your lot in Phase 2.

ON AUGUST 25, 2017, Category 4 Hurricane Harvey made landfall near Rockport, Texas, causing widespread catastrophic flooding and damage in Texas and along the Gulf Coast. Damages are estimated as high as $190 billion. We invite you to help victims of this hurricane and natural disasters. GlobalGiving is the largest global crowd-funding community, connecting nonprofits, donors, and companies in nearly every country. The organization works directly with local communities who are best positioned to provide long-term support for the survivors of natural disasters like Hurricane Harvey. Most importantly, GlobalGiving will post reports about how funds are used and will email these to donors, allowing them to see directly where their donations have gone. All donations to this fund will support recovery and relief efforts for Hurricane Harvey. The fund will help first responders initially to meet survivors’ immediate needs for food, fuel, clean water, hygiene products, and shelter. Once initial relief work is complete, the fund will support longterm recovery efforts run by local vetted organizations along the Gulf Coast. Donate by US Mobile Phone - Text HARVEY to 80100 to donate $10 to the Hurricane Harvey Relief Fund. Message and data rates may apply. Only works for US mobile phones. Or visit GlobalGiving’s web page for donations to the Hurricane Harvey Relief Fund and other natural disasters around the globe. See page 15.

For donations, text “HARVEY” to 80100 to donate $10; or visit: www.globalgiving.org/projects/hurricane-harvey-relief-fund/donate/

Got great news to share about the Building Industry in the Coastal Bend Area? Email us at info@acrossmediamarketing.com for a chance to be featured. February/March/April 2018

Builder Industry News

“DISTINCTIVE PRODUCTS ARE THE CORNERSTONE OF AWARD-WINNING HOMES.” V I S I T M AT E R I A L E S E LVA L L E I N C . C O M H O M E B Y: I N N O VAT I V E C O N S T R U C T I O N Winner of 2017 “Best of Show” Award (RGVBA Parade of Homes)

WOW FACTOR FOR SALE

Materiales El Valle Products Now Available In Corpus Christi, Texas

While it is true that real quality is what is behind the walls, there is no doubt that a buyer’s first impression is made by what he or she visually sees. From a home’s exterior materials to its elegant flooring, exotic granite countertops, artistic backsplash tiles, and beautiful colors and textures in bathrooms and showers—it’s the “WOW” factor that creates a potential buyer’s emotional connection to a home. Since 1986, Materiales El Valle has been providing that “Wow” factor to local builders and homeowners in the Rio Grande Valley. Now, the company is making their products available in the Coastal Bend region. Materiales El Valle has long been a leading supplier for Valley residential and commercial builders. The company is proud to consistently list, as customers, all of the winners of the local Rio Grande Valley Parade of Homes competition—year after year. The secret to Materiales El Valle’s success is their millions of square feet of inventory and options in colors, textures, and fresh innovative products. The company has three stores with thousands of square feet of showroom space containing beautiful full-sized displays and samples of a huge variety of products including brick, ceramic tile, glass mosaic tile, handmade Saltillo tile, roof tile, porcelain, marble, Travertine, Cantera, and wood flooring. A host of accessories includes such items as Cantera columns, unique decorative tile accents, natural stone bowls, designer kitchen and bath faucets, and showerheads. See the back cover for a quick look at some of their products. Because the company has a long-standing relationship with many reputable name-brand vendors and manufacturers in the U.S. and Mexico, Materiales El Valle is able to offer customers the latest in quality products at extremely affordable prices. Materiales El Valle has a fleet of trucks to deliver anywhere in South Texas at a reasonable cost—especially to the Coastal Bend region only two and ½ hours from their stores. If you are a builder looking for a competitive advantage in a Parade of Homes competition, or if you are a consumer just looking to remodel your existing home, you need to reach out to Materiales El Valle. Visit their website materialeselvalleinc.com or call Chalin Espinosa at (956) 793-1081. Ask for Promo Code: “Coastal Bend New Homes Guide” (Limited time offer).

February/March/April 2018

ON THE COVER

The Secret to Award-Winning Construction by Newcastle Homes Over the last several years, John Pope—Newcastle Homes— has received the most awards in his homes’ category (2100 sq. ft. and under) from the Coastal Bend Home Builders Association’s annual Parade of Homes. In fact, this past year, Newcastle Homes won every Parade of Homes award judged in its category except for one—in a category in which the home was not entered. The annual Parade Awards have earned John Pope, founder of Newcastle Homes, a reputation for building homes that stand out above others when it comes to beauty, quality, and efficiency. “The Parade of Homes awards have a special meaning to us because they represent a recognition of the quality craftsmanship of Newcastle Homes. This recognition is special because it is awarded to us by our peers—professionals in the industry who appreciate quality construction. We are blessed and humbled to consistently win the approval of the Parade judges,” smiled Pope. The one award that John Pope is most proud of is the “Best Craftsmanship” award. He describes his perspective this way by using a car analogy: “We place a ‘Ferrari engine under the hood’ because of all the energy efficiency products we utilize. We can prove that with an Energy Rating Index score; however, not many people actively look for that. But excellence in craftsmanship is different. If you can transition between materials correctly, have good materials that ‘wow’ homebuyers, and construct with nice joints, that’s what I think people recognize. So we’ve also put a ‘Ferrari exterior’ on our homes, and that’s what people can actually see. Our homes make a great first impression, whether the viewer is a Parade of Homes judge or a potential homebuyer.” Newcastle Homes’ success is based on simple principles: knowledge of good building science, especially energy efficiency— and 100% customer satisfaction. The principles are simple, but achieving them is a bit more complicated. A good understanding of building science takes years to accumulate, and it only takes one dissatisfied customer for word to get around and affect a builder’s reputation. So what got Pope interested in good building science and energy efficient homes? “It just made sense,” Pope stated. Right out of college, he started working for a national builder that specialized in ENERGY STAR® compliant homes. It was during that time that he learned the craft inside and out. When he moved back to Corpus Christi four years later to start his company, no other building standard measured up to what he’d already learned. “I just kept doing what I’d always done in my earlier job,” he commented. And, as new materials and technologies developed, Pope’s knowledge and skills with building science and energy efficiency continued to grow. Newcastle Homes was an early pioneer in Corpus Christi of

Coastal Bend New Homes Guide

the use of solar panels. The company has integrated these and other renewable energy systems in its homes to achieve some remarkably impressive Energy Rating Index scores—some unheard of in this area. Newcastle’s homes have consistently scored in the low 60’s and 50’s, qualifying well above what is required by code. More impressively, Newcastle Homes has also achieved stellar scores in the low 20’s. Scores that are that low involve the use of renewable energy systems like solar panels and a builder who possesses a keen and current knowledge of the science of building a quality, energy efficient home. Newcastle’s homes are so energy efficient that even lenders see the value. Pope stated, “Mortgage companies recognize that an energy efficient home will save the homeowner money in the long run, so they realize that the home can oftentimes qualify for the extra mortgage money needed.” A large part of Pope’s work is in educating consumers about the benefits of his type of construction—especially about the inherent long-term savings and what the numbers mean for bottom lines. Some energy-saving systems or equipment may require higher upfront costs; however, long-term energy will not only pay for the equipment in a few years, but the end result is savings on utility bills for the life of the home. “You cannot finance utility costs, but you can finance upgrades that will reduce your utility costs,” explained Pope. “We help people understand that.” Good building science involves a “whole-

house” approach to energy efficiency and savings. It requires knowledge of the various components of a home that impact not just energy efficiency but, more importantly, the home’s comfort. After all, you do not actually feel “energy efficiency,” but you do feel a home’s comfort—every day. Newcastle Homes incorporates a variety of energy efficient elements like foam insulation, low-e windows, high-efficiency lighting, heat pump air conditioning systems, and barrel roof designs. And several of Newcastle’s homes have also been fitted with solar photovoltaic panels that produce renewable energy to save clients even more on energy bills. Aside from saving energy and being expertly constructed, Newcastle Homes are also recognized for being beautiful. They’re designed with open concepts, jaw-dropping kitchens, and extraordinary bathrooms. “I pay special attention to all sorts of little details—details that add character, and help to personalize a home. For example, our unique showers are often the centerpiece of a home and loved by everyone,” mentioned Pope. John Pope doesn’t want to stop achieving new things. He has his sights set on building his first Net Zero home in the near future – a home that would generate as much renewable energy as it uses. “I hope to find a buyer who is willing to recognize the value of a Net Zero home and invest in it. But … nobody recognizes the value of such an achievement more than I do, so I may just be the first one to own a Net Zero home,” he stated with a big smile.

Let’s talk Energy Rating Index (ERI) scores. The information is critical to know if: a) You want to know how energy efficient the home you are thinking of buying is; and b) Whether or not your home was built in compliance with the State’s energy code law. There are 4 paths to comply with the 2015 International Energy Conservation Code adopted by the State of Texas on September 1, 2016. And one of those paths is for homes to achieve an Energy Rating Index (ERI) score of 65 or less. An ERI score is like the MPG (miles per gallon) of a car. Unlike MPG, however, the lower the ERI, the more energy efficient the home is.

John Pope, Newcastle Homes, has been consistently recognized with Parade of Homes Awards including: Best Craftsmanship, Most Energy Efficient Home, Best Kitchen, Best Master Bath, Best Bathroom, Best Floorplan, Best Interior, Best Exterior, and Best Landscaping. The company is entering two homes in the 2018 CBHBA Parade of Homes.

NewcastleHomesCC.com pope232@hotmail.com (361) 834-5354

February/March/April 2018

Homebuying Advice

MORTGAGE SHOPPING 101 Loan Types You Need To Know When it comes to building your new home, one of the key steps is to secure a mortgage that is right for you. This means you will likely have to do some research and shopping around to learn what the options are and where you can get the best rate and terms. Doing your homework can save you a lot of money in the end. It’s important to understand the different types of mortgages available and how they work. Not all mortgages are the same. Some loans are better depending on how long you plan to live in your home and your current financial situation. Let’s explore the main options in greater detail.

FIXED-RATE LOAN

When people think of mortgages, they usually first explore fixed-rate loans. With this type of mortgage, the interest rate you get when you sign your mortgage papers is the one that you pay for the life of the loan period. Most fixed-rate mortgages last between 15 and 30 years, so if you agreed to an interest rate of 3.8 percent on a 15-year mortgage, you’ll pay 3.8 percent for 15 years. Is this mortgage right you? If you’re someone who doesn’t like to risk interest rates increasing, and you plan to be in your home for a long time, this is a good option to consider. Fixed-rate mortgages remove the worry of interest rates that can change quickly. You will also be able to budget for your payment for years to come.

ADJUSTABLE-RATE MORTGAGES

An adjustable-rate mortgage (ARM) gives you a fixed interest rate for a shorter period of time, after which the interest will be adjusted. So if your first mortgage term is 10 years, you will pay your initial interest rate of 3.8 percent for that period of time. However, after that period, your mortgage will adjust annually based on the current interest rates – it may increase or it may decrease. The good news is that your initial interest rate will likely be a lower interest rate than the fixed-rate mortgage offers.

Coastal Bend New Homes Guide

How do different ARMs work? Depending on the plan you pick, you can have a fixed rate for the first 3 to 10 years, after which the rate will adjust annually until the end of your mortgage period. The following table is based on a 30-year ARM mortgage

ARM

Year Fixed Rate

Years Your Rate is Adjusted Annually

3/1 5/1 7/1 10/1

3 5 7 10

27 25 23 20

Is this mortgage right you? If your credit score is low, you could get a better interest rate with an ARM compared to a fixed-rate loan. This could make it more affordable for you in the short run. However, when the adjustment period is over, you may have a bigger monthly payment if interest rates jump in five to 10 years (depending on the terms of your loan). Ask questions up front about how often the interest rate will be adjusted. Be sure to find out the worst-case scenario for which you should plan. In some cases, refinancing in the future is not an option, which means you’d be stuck with a higher monthly payment. If you’re planning to stay in your home for a long time, you need to consider if you can afford a larger payment in the future. If you’re not planning to be in your home after the adjustment period is over, this might be a good route to go.

FHA LOANS

A Federal Housing Administration (FHA) loan is generally a fixed-rate loan over 15 or 30 years, but it requires a much smaller down payment. To secure an FHA mortgage, you may only have to invest 3.5 percent of the value of your home to get started. When you compare this to conventional mortgages that require a 20 percent down payment, you can see that an FHA loan requires a much smaller up front investment. However, you may also be required to pay additional fees at the start of an FHA loan. One fee may be a mortgage insurance premium (MIP), which is about 1 percent of the loan. If you have less than 10 percent for a down payment, you will more than likely have to pay an annual mortgage insurance premium. This will be added on to your monthly payment for the length of your loan. One other factor to consider is the size of your mortgage. FHA loans can be no larger

than $417,000 total, so if your new home costs more than that, this option will not be a good one for you. Is this mortgage right you? If you do not have a lot of money for a down payment, this is a good route to go. However, if you can afford the down payment of at least 20 percent, a conventional loan would save you a lot of money on interest and fees in the long run. Additionally, only choose this option if your home’s purchase price is less than $417,000.

VA LOANS

A Veterans Affairs (VA) loan is a good option for anyone who has served in the U.S. military. Individuals who qualify for a VA loan can get into a home without a down payment or mortgage insurance requirements. To qualify for this type of mortgage, you must meet some stringent requirements. For instance, you must be purchasing your primary home (not a home that you will use as a rental). Additionally, you cannot purchase a home that requires a lot of work (a fixer-upper) since VA loans are only good for homes that meet “minimum property requirements.” Is this mortgage right you? If you are a veteran who served 90 days consecutively during wartime, 180 during peacetime, or six years in the reserves, this might be your best choice. Do your research to see if you are qualified to apply.

USDA LOANS

This is a program designed for financiallystruggling families in rural areas. It’s a great program for people who might not otherwise be able to become homeowners. Since this is a 100 percent governmentfinanced loan, it offers many benefits. You don’t need a down payment, and these loans often come with below market interest rates, too. However, you will have

to meet certain financial requirements in order to be eligible. Is this mortgage right for you? If you live in a rural area, a USDA Rural Development loan can save you money. If your debt load (what you owe to other creditors) is not more than 41 percent of your income and you purchase mortgage insurance, you might be eligible.

BRIDGE LOAN

If you’re already a homeowner and are ready to purchase a new home but haven’t yet sold your current home, you may need a bridge loan. A bridge loan, or gap loan as it is also known, gives you the option to take out a short-term loan until the sale of your first home is finalized. Here’s how it works: your current mortgage and your new mortgage are rolled into one payment. After you sell your current home, the portion of your mortgage that covers your old home will be paid off. After that, you can refinance the balance of your mortgage to cover your new home. You must meet certain credit score requirements in order to be eligible for this option. Is this mortgage right for you? If your credit score is excellent and your debtto-income ratio is low, you may qualify if you’re trying to transition between two mortgages. The amount you need to finance cannot be more than 80 percent of the two homes’ combined value. This is a good option for people who are trying to unload a current home and can’t finance two separate mortgages. Remember—there are many types of loans out there, and this article only covers a few of the major types. You need to decide which best fits your needs by visiting with a mortgage specialist. With a little homework, you can get into your new home without breaking your bank.

A Visual Comparison of Loan Types Let’s put some numbers to these loans so you can see how this would work in real life. We’ll use the example of a homeowner who is applying for a $250,000 mortgage. The interest rate is 3.5 percent. For this example, the property taxes and homeowner’s insurance are $300 a month. In the table below, you’ll see an estimate of what you might pay. Keep in mind that credit score requirements vary by lender and loan type, but these tend to be the average minimum FICO scores. Interest rate is approximate. Loan Type Conventional USDA FHA VA

Minimum Credit Score 660 640 640 620

Minimum Down Payment $50,000 $0 $7,500 $0

Funding Fee $0 $2,500 $4,223 $5,375

Principal & Interest $870 $1,072 $1,123 $1,072

Mortgage Insurance $73 $59 $89 $0

Monthly Payment $1,271 $1,391 $1,512 $1,300

February/March/April 2018

Homebuying Advice

Why Buy New

If you’re in search of a new home, you’re likely debating the benefits of a newly built home versus an established one. There are several factors you should consider before you start your search. Too many people pass up an opportunity to build their own home without thinking about the pros of new construction. Let us give you some thoughts to ponder.

BENEFITS OF BUILDING A NEW HOME

Imagine for a moment you get to decide everything about your new place. These are the benefits of being able to build new and choose every aspect of your new home’s design:

Easier to Maintain: Since everything from your roof to the HVAC system are brand new, you don’t have to worry about what will stop working. You get new warranties with new construction. This will help guard against major repair costs. It also means you won’t have to save as much money for when something like the water heater needs repair.

More Efficient and Healthier: For example, take the BUILT TO SAVE™ program—you can connect with contractors who know how to build energy efficient homes. They also understand which building materials are healthier. For instance, they can help you choose low and zero-VOC (volatile organic compound) building materials and paints that are better for your indoor air quality.

Coastal Bend New Homes Guide

Floor Plan: In a new home, you get to select how you want your house laid out. If you want a formal dining room, you can have it. If you want an open floor plan with floor to ceiling windows, you get to decide that, too.

Personalized Materials: A new home allows you to decide on special features. For instance, you can choose the type of flooring or countertop material you want to use.

Location: New homes tend to be built in communities that are designed for lifestyles, such as proximity to parks, schools, or public transportation. That means you can choose your new house based on a neighborhood that best suits what matters to you.

Timing for Moving: It takes about five to six months to complete a new home build. This will give you time to plan for your move to take the pressure off of the process. Remember, a new home might seem to have a higher price tag, but being able to personalize your home and save money over time will be worth the cost in the long run.

Support Our Coastal Bend Families. HURRICANE HARVEY RELIEF

On August 25, 2017, Category 4 Hurricane Harvey made landfall near Rockport, Texas, causing widespread catastrophic flooding and damage in Texas and along the Gulf Coast. Damages are estimated as high as $190 billion. We invite you to help victims of this hurricane and natural disasters. GlobalGiving is the largest global crowd-funding community, connecting nonprofits, donors, and companies in nearly every country. The organization works directly with local communities who are best positioned to provide long-term support for the survivors of natural disasters like Hurricane Harvey. Most importantly, GlobalGiving will post reports about how funds are used and will email these to donors, allowing them to see directly where their donations have gone. All donations to this fund will support recovery and relief efforts for Hurricane Harvey. The fund will help first responders initially to meet survivorsâ&#x20AC;&#x2122; immediate needs for food, fuel, clean water, hygiene products, and shelter. Once initial relief work is complete, the fund will support long-term recovery efforts run by local vetted organizations along the Gulf Coast. FOR DONATIONS:

www.globalgiving.org/projects/hurricane-harvey-relief-fund/donate/

Energy Efficiency

Demand a Right-Sized A/C Unit for Your Home Bigger Is Only Better for the Contractor

When it gets hot in Texas, it gets really hot. We have a climate in which air conditioning is required practically year round. So, when you’re in the process of buying or building a new home, it’s important to make sure your A/C unit is correctly sized and matched to the home’s specifications. Why is this important? Simply put, an A/C unit accounts for about 50% of your home’s utility bill, but more critically—it accounts for 100% of the home’s comfort. A home with an oversized unit will not only consume more electricity than needed, its occupants will be plagued by uncomfortable clammy interiors with other long-term operational problems from poor humidity control. If you want to make sure you are not a victim of the “Bigger Is Better” sales pitch, here’s what you should know.

Photo On The Right: A BUILT TO SAVE™ certified home from Santiago Investments. It looks like any other home, but it’s not. It is a high-performance home that is superior in energy-efficiency than a similar home built to code. See Inside Back Cover

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UNDERSTANDING WHAT DETERMINES RIGHT-SIZING OF AIR CONDITIONING SYSTEMS

In the U.S., the Air Conditioning Contractor’s Association of America (ACCA) produced a protocol for calculating the heating and cooling loads of a home in order to determine the correct A/C system needed for a specific space. Known as a “Manual J,” this protocol takes a scientific and mathematical approach to accurately match the size of the A/C with the home’s required load calculations. A Manual J is absolutely more accurate than the rules of thumb that many contractors use, such as “1 ton of air conditioning capacity for each 600 square feet of living space.” These rules of thumb—especially bad rules of thumb—grossly oversize the A/C unit. While a “Manual J” is required by code officials in order for a builder to get a building permit, the reality is that it is not their job to ensure the Manual J is correct. Even the builder may not know if the Manual J developed for his or her home is correct. Too often, everyone trusts the HVAC contractor who is the one responsible for developing the Manual J, which determines the correct size of the air conditioning unit. A/C units are sold by the ton—the bigger the unit, the

more costly the system. One ton can cost about $1000, so you can see that making sure the A/C unit is properly sized can have huge payoffs—even before you learn about all the benefits you will enjoy and all the headaches you will avoid when the A/C is properly sized. A home’s heating and cooling load is determined by its design. Many factors are considered, room-to-room, when calculating these loads using special software: square footage, type of windows, type of insulation, and climate zone are only a few examples. It is a time-consuming job and probably why most HVAC contractors use rules of thumb instead, or worse, just use the default information on their software, which mostly likely does not reflect your home’s specific characteristics. These “inaccurate defaults” result in “inaccurate outputs” and produce an inaccurate Manual J that incorrectly requires an oversized A/C unit. It may be good for the HVAC contractor, but not for you.

WHY YOU DON’T WANT AN OVERSIZED HVAC SYSTEM

Believe it or not, 40% of all US contractors admit that they are likely to oversize the equipment as a result of skipping Manual J calculations. They assume that a bigger A/C system will be able to accommodate any need and therefore should work fine. In other words, they believe that bigger is better. It’s also much easier for them to guess or use rules of thumb instead of taking the time to accurately do the required Manuals J, S, T, and D. Aside from paying too much for an oversized A/C initially, there are other operational problems to be aware of if your A/C is too big. More Expensive: At $1000 per ton, a larger (capacity) A/C system costs more to buy. Like poor “miles per gallon” of a car with an inefficient larger engine, an over-sized A/C will get poor efficiency and your utility bills will be much higher than necessary. Increased System Wear: To be efficient, an air conditioner should run for longer, even cycles rather than for short bursts of cool air. An oversized unit will short cycle – this means it will start up and shut down more often. The constant “on and off” operation will increase the wear and tear of your equipment, resulting in a shorter life span and expensive repairs. Poor Circulation: A/C units that are bigger than necessary do not run long enough to create good air circulation. A common

problem is that some rooms will be too cold and others will be too hot. A right-sized unit will run for a longer period of time, allowing for good air circulation that helps to maintain even room temperatures. Improper Humidity Levels: With a right-sized air conditioning system, the longer running time actually helps to remove the humidity in your home. On the other hand, with a larger system in which air circulation is low, your home will feel sticky and clammy. Indeed, your humidity levels may be higher, so you crank the system up. This will only add to the humidity problem and increase your electricity costs, as well. Moisture and Mold Issues: An over-sized A/C unit does a poor job of removing humidity out of the home because it cools the space quickly and shuts off before it can do so. The long-term result is a variety of moisture and mold issues throughout the home.

ENSURE YOUR NEW HOME HAS THE RIGHTSIZED HVAC EQUIPMENT

The good news is that there is a way to be sure that your A/C unit is sized correctly to produce extended runtimes, control humidity, eliminate moisture problems, provide even temperatures in all rooms, and use less energy—it’s called a BUILT TO SAVE™ certification for new homes. A home that receives a BUILT TO SAVE™ certificate has been inspected and tested by an independent, third party energy rater who guarantees that the home has complied with the requirements of the program. And one of the key components of the BUILT TO SAVE™ program is that the home’s HVAC system be right-sized and properly installed. The Manual J documents provided for homes enrolled in the BUILT TO SAVE™ program are collected in the pre-construction stage of the program and studied by an energy rater who compares the data entered in the Manual J report with data from the home’s floor plans and other data collected from onsite inspections. A home with an oversized A/C unit cannot qualify for the BUILT TO SAVE™ program. Don’t take anyone’s word that your A/C is properly sized. Ask for guaranteed proof—ask to see the BUILT TO SAVE™ certificate.

Manuals J, S, T, D: What Are They? Manual J Definition Manual J is a protocol developed by the Air Conditioning Contractors of America (ACCA) and is used to figure out how much heating and cooling a home needs to keep the indoor environment comfortable. This room-by-room calculation for the entire home determines its need (in BTUs per hour) for cooling and heating, taking into account other factors of the home such as location, insulation, materials used, orientation, window specifications, etc. Manual J is used to determine the “right size” A/C unit to use. Manual S Definition Once the amount of air required by each room in the home is known, the next step is deciding which equipment can best fulfill that need. Manual S is used to select the right HVAC equipment and is important to use since there are many options from which to choose, each with its own pros and cons on how the HVAC system handles sensible and latent heat, air movement, and static pressures. Manual T Definition Manual T addresses the location and type of the various supply registers, diffusers, grills, and what the appropriate sizes should be. This information is critical in establishing an efficient and consistent movement of air throughout the home. Manual D Definition Manual D is used to determine an efficient delivery system of ductwork that takes into account such things as distance from the air handler to the ducts, efficient duct design and type of material, balance friction versus airflow, and what is required by each room. Using accurate information on all the Manuals J, S, T, & D will ensure that the design and construction of a high performance HVAC system will make any home much more energy efficient and comfortable than a similar home built without regard to these Manuals. February/March/April 2018

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