New Golf Course Community- Stonebridge at The Ranches

This morning I dropped by McArthur Homes' newest community, Stonebridge. This new neighborhood is located near the entrance of The Ranches of Eagle Mountain, right on The Ranches Golf Course and across from the charter high school, Rockwell. Could the location be any better? The views from these large estate home sites are gorgeous too, so I pulled out my camera and snapped a few pictures of this prime location. With homes starting in the high $100s, golf course living is affordable now! Follow this link for floorplans and pricing on these golf course homes.

Our new model home is now open! Monday-Saturday, 11am-7pm

VA Loans

We have recently had several McArthur Homes homeowners who have financed their home using a VA loan. This is a unique program available to veterans which allows for 100% financing and competitive interest rates. Below I have provided some basics of VA loans, which were provided by one of McArthur Homes' preferred lenders, Scott Smith.


Down Payment & Mortgage Insurance Not Required

The VA Loan allows Veterans 100% financing without private mortgage insurance or a needing to obtain a 20% second mortgage. The guarantee of a VA Guaranteed Home Loan means the lender is protected against loss if you fail to repay the loan. Because the guaranty replaces the protection that the lender normally receives by requiring a down payment or mortgage insurance, qualified borrowers are allowed to obtain favorable financing terms without a down payment.

Assumability

A VA loan can be assumable. For VA Loans committed on or after March 1, 1988, you may sell your home to someone who agrees to assume your loan if the creditworthiness of the new borrower is approved. This can be a significant selling point when it comes time to sell your home.

Interest Rate

VA loans rates offered to VA borrowers can sometimes be lower than interest rates offered to the same borrowers for conventional loans.

No Prepayment Penalty

You are able to repay your VA loan at any time with no penalty.  Often loans with prepayment penalties require an additional amount be paid to the lender if the loan is repaid within the first two or three years.  Your VA benefit provides this extra peace of mind.

Late Payment Guidelines

One of the requirements for the servicing company of a VA Home Loan is that there be no late charge unless payment is more than 15 days overdue. Any late charge may not exceed 4 percent of payment amount. In addition, financial counseling is available from the VA in case of temporary financial difficulties.

Streamline Program

The VA Streamline Refinance allows qualified VA mortgage holders to refinance at a lower interest rate and/or term without having to re-qualify and in some cases obtain another appraisal. This is provided to those who have remained current on their VA loans.

For more information contact Scott Smith of Prime Lending at 801-209-3850 or visit www.McArthurHomes.com.

The (Negative) Power of Pink

Recently I was reading an article on SmartMoney.com about the psychology of sales in real estate. The article sighted several interesting studies. One study showed that buyers were significantly less likely to buy a home where the living room was painted pink. This surprised me because it would take buyers only a few cans of paint to redo the room, but it still impacted their decision to purchase. So, if you're looking to sell your home, don't underestimate the power of staging your home and using neutral colors.

On the other hand, if you do repaint your home to make it more appealing to buyers, DON'T mention that on your listing. According to the article, listings that mentioned new paint sold, on average, for slightly less than those that did not. Apparently buyers feel that advertising new paint means that something had to be covered up.

Click here for more tips on selling your home. 

Check out the article here, to read more about the psychology of real estate.