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Please call Susan @713.480.5560
116 Firestone Ct
Waller, TX 77484
Phone: 713-480-5560
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Mortgage Calculators
Mortgage related calculators are a great way to prepare for a worry-free real estate transaction. If you need assistance in understanding how to use these calculators, feel free to call or email.
How Much Will My Payments Be?
Calculate your monthly payment with applicable financial charges, PMI, hazard insurance, and property taxes.
Mortgage Principal Calculator
This calculator allow you to "peek into the future", allowing you to see the remaining balance of your mortgage after several months or years of payments.
Mortgage Length Calculator
This calculator will help you to determine your savings if you make larger monthly payments.
What if I Pay More Every Month?
See how your mortgage will be reduced, if you pay $$$ more every month.
Payment per Thousand Financed
Have you ever wondered how much you pay for every $1,000 of your mortgage loan? Find out here!
What is The Real APR for That Loan?
This calculator estimates your real APR (Annual Percentage Rate) with points.
Affordability Calculator
How much you can borrow from a lender? Use this calculator to calculate the amount you can afford from the lender's point of view.
Tax Benefits Calculator
This calculator will calculate your tax savings after a house purchase. Financial analysis includes first year as well as total tax savings.
Should I Refinance?
Is your old APR (Annual Percentage Rate) too high? Estimate the benefits of refinancing using this calculator.
Should I Pay Points to Lower My Interest Rate?
Calculate how much points affect your monthly payments and how fast they will pay for themselves.
Should I use HELOC to Lower My Debt Payments?
Learn how you can cut current monthly debt payments using money from your Home Equity Line Of Credit (HELOC.)
How Much Income do I Need in Order to Qualify?
Do you need to know how much money you must earn to purchase the house of your dreams? This calculator will help you figure it out.
What is Better: take a Second Loan or Pay PMI?
Don't miss an opportunity: Slash your PMI payments to zero! Take a second mortgage!
Interest-Only Calculator
Housing market moving up too fast? Figure out how much you can afford with an interests only mortgage loan.
Interest-Only with Additional Payments Calculator
Interest-Only loans can drastically cut your mortgage payments, but what if you want to pay something toward your principal? Figure this out here.
Canadian mortgage calculator
This calculator computes your monthly payment based on your input - conventional mortgage financing compounded semi-annually. It is also calculating required annual income, which every Canadian homebuyer need to have.
Which Loan is Better?
Can't decide which loan offer is better? Input your numbers here and lock-in the best offer.
Standard vs. Bi-Weekly
You heard that bi-weekly payments can significantly decrease the time of mortgage payoff? Check it out with this calculator.
Rent vs. Buy
Still renting an apartment and thinking about a home purchase? This calculator can help you make the final decision.
Paying off Credit Card Debt with Minimum Payments
This calculator is designed to show you how long it will take to pay off your credit card and how much interest you will pay if you only make the minimum monthly payment.
How Can I Payoff My Credit Card Debt Sooner?
This credit card payoff calculator will tell you how long it will take you to pay off your credit card debt with the amount you pay now, and how much you would have to pay every month to eliminate credit card debt even sooner.
Seller's Closing Costs & Net Proceeds Estimator
This calculator will help you estimate the seller's closing costs and net proceeds.
Monthly Payment and Closing Costs Estimator
This calculator will help you estimate the buyers's payments and closing costs.
DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.
Beacon Hill Highlights:
- HOA Annual Dues: $665
- Total Tax Rate: 3.06%
- Waller School District
- Highly Ranked for Quality Builder by J.D. Power & Associates in 2010
- Minutes from shopping and restaurants
- Easy access to Hwy 290, Grand Parkway
MORTGAGE CENTER
How Much Income do I Need in Order to Qualify?
Do you need to know how much money you must earn to purchase the house of your dreams? This calculator will help you figure it out.
Savings: When you finance through our Preferred Lenders, Long Lakes Homes will pay your 1st year Home Owner Insurance, your owner’s title policy, and $500 in closing costs –
(these incentive valued from $3000 to $5000 determined by your loan amount)
Preferred Lenders:
1 . HOME NET FUNDING
Robert Tinh
C: : 713-992-7100
robert.tinh@nflp.com
2- Texas Capital Lending
Gerald Boudreaux.
NMLS # 1130687
Cell: 832-693-0991
Efax: 281-754-4699
gboudreaux@txcapital.net
3 .BenchMark
WILL NEVOTTI
214-733-9620 Cell
will.nevotti@benchmark.us
Mark Prague
832-205-1595
(Spanish Speaking)
mark.sprague@benchmark.us
3.
Finance Your New Home with Your Homebuilder’s Preferred Lender
Buying a newly-constructed home? Fun! Financing your newly-constructed home? Not so much.
Homebuilders feel you on this. When it comes time to find a mortgage, they have ways of making the process a little less of a hassle. They will have partnered with “preferred lenders” who work closely with them and know the builder’s paperwork, their schedules, deadlines, and their procedures. This may make the transaction come together more quickly, more smoothly, and with less effort on the part of the buyer.
What Are the Advantages of Preferred Lenders?
Under federal law, homebuilders can’t charge less for homes that are financed by preferred lenders. They also can’t require buyers to use their preferred lenders. But they can (and do) offer certain benefits for borrowing from them.
Buyers who use preferred lenders may get credits on their closing costs. The builder might promise an appliance upgrade, a more premium type of flooring or countertops, or other enhancements to the home.
Purchasers of newly-built homes may be able to meet with the preferred lender outside of “banker’s hours” in the development’s model home. This can make scheduling mortgage meetings much easier for busy people.
Most significantly, the close working relationship between builder and banker may help make the whole application, approval, and closing process easier and faster for everyone. As mentioned, preferred lenders know the builder’s timeline, terminology, and processes. They know the milestone dates and construction schedules. This enables them to coordinate the completion of the required home loan paperwork more quickly and accurately. There is simply less chance of miscommunication between the finance and construction companies.
Of course, the most important things for most people in choosing a mortgage are getting the best mortgage rates and getting the most favorable loan terms. Preferred finance companies usually offer very competitive interest rates and closing costs--though it’s still a good idea to shop around to make sure you’re getting the best deal.
How to Work with a Preferred Lender
The first step toward doing business with a preferred lender is to learn all you can about the relationship between it and the builder. The builder/seller is required by law to inform you about how it is affiliated with the lender. That’s valuable information. Ask questions about the relationship between the two entities if you’re not clear on it.
Once you’ve decided to go with the preferred lender, the transaction should move along like any other real estate transaction. The lender will request your financial information, so it’s a good idea to have that organized early in the process. It makes sense to review your credit history and to clear up any errors it may contain.
It’s also a good idea to be represented by an attorney in the transaction—and this is true regardless of who is financing your purchase. Ideally, you should retain a lawyer early in the process so that all legal issues can be resolved before closing.
Preferred Lenders and Your New Home
As anyone who’s ever purchased a newly-constructed home can tell you, the process is a little different than buying an existing home. Many people find it fulfilling—and even fun—to be involved in the design and outfitting of their new residence from the ground up. Using a preferred lender to finance the new home of your dreams often makes the buying process smoother, faster, and easier. Having fewer financing details to worry about gives you more time and energy to focus on the more engaging parts of the transaction—such as choosing your appliances, flooring, and custom features. That’s the best possible reason for using a preferred lender.
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8 Questions to Ask When Buying New Home Construction
Not sure exactly what you need to be asking about? These 10 questions to ask when buying a new construction home will help get you started.
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Is the lot cost included?
When you’re exploring new construction options, you’ll see that each plan comes with a base cost. This is the cost of the structure itself, as well as base interior and exterior features (we’ll get into those in a little bit). What may not be included is the cost of the land, so be sure to ask if the lot cost is figured into the base.
If the lot cost is included, ask if there are premium costs for certain lots. It’s possible that the base cost does include the lot, but the remaining lots in the development all have added costs for certain features that you can’t opt out of, such as look-out windows in the basement or wider yards. If the lot cost is not included, ask what it is (and whether there are additional premium costs) and factor those into the base price for the house.
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How long will building take?
It’s important to know what you’re getting into timing-wise with a new construction build, particularly if you have a house to sell first or you’re going to be renting. While the building process is prone to delays and you won’t be able to get a finite schedule for how long the build will take, you’ll be able to get a general idea of what you can expect. Be sure to also ask if the build time includes the time it takes to get the permits, since those will typically take about 30-45 days to obtain.
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What warranties are provided with the house?
Just because a home is brand new doesn’t mean that no problems will arise. Fortunately, most new construction homes come with one or more warranties that protect you in the event of a mishap early on, including a short term whole-house warranty and a longer structural warranty. Ask what the warranties include and how long they last. While you can always buy your own home warranty, you should expect that the builder will cover you in some way for at least the first several years.
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What are the standard finishes?
Does a base cost look too good to be true? That might be because the builder is expecting you to spend big when it comes to finishes like flooring and countertops. Ask what types of finishes are included, and better yet, go through the model unit with the sales representative and have them point out what’s standard and what is an upgrade. You likely won’t meet with the design center until after you’ve gone under contract, so it’s important to figure out early what sorts of finishes and appliances you can expect to be included in the home’s base price.
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Is landscaping included?
Depending on the size of your yard, landscaping, including sodding and putting in trees and plants, can set you back several thousand dollars or more. Is that a cost you’ll have to factor in on top of the home purchase? Some builders include your basic yard work, while others leave you with unfinished land that becomes your responsibility to landscape (and generally must be completed in a set amount of time, per the contract). Ask whether landscaping is included, and if so, what that entails and if there is any sort of warranty on the materials so that if your newly sodded grass dies right away or some other mishap occurs you’re not responsible for fixing it.
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Does the contract include a cost escalation clause?
New builds are notorious for last minute surprises, but you don’t want to be on the hook financially if it happens. A cost escalation clause allows the builder to charge you for any unanticipated costs that arise as a result of necessary labor or materials. So if lumber prices go up before the builder has purchased the materials for your flooring, or an unexpected delay adds a few weeks onto the build, you’re on the line for those costs. If you’d rather not deal with the stress of unanticipated costs, find a builder that doesn’t include a cost escalation clause in the contract.
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Are there any homeowners rules or regulations?
Even if there is no homeowners association for the development, the builder may still set some guidelines as far as what’s allowed and what’s not on your property. For example, you may not be able to use a particular type of fencing or install a shed in your backyard. It’s better to ask this question early and know what to expect than to move in and find out that you can’t bring into fruition certain plans you had for the space.
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Are there any financial incentives for using the builder’s preferred lender?
Some builders offer discounts on closing costs if you obtain your mortgage through a company that they have a relationship with. Ask if these sorts of financial incentives are offered, but don’t make your final decision about where to get your mortgage based on the discounts alone – you may still be able to find a better deal through other lenders. It’s still good to know however if there are benefits to working with the builder’s preferred mortgage company.
If it’s your dream to build a new construction house, go in to the process with an open mind and a clear idea of what you can expect. The more questions you can ask in the beginning, the less surprises you’ll potentially face in the future.
And as with any home purchase, be sure to have an attorney read over your contract so that you can be sure everything is fair and equitable. Some buyers of new construction prefer to go in to sales meetings with a real estate agent as well, though in my own experience, I didn’t find that to be necessary. Be smart, ask the right questions, and at the end of the day (or fine, year) you’ll end up with a beautiful home built just for you.
Equal Housing Opportunity | 