Industry Leading Customer Satisfaction

In 2010, McArthur Homes has once again proven that a commitment to customer satisfaction isn't just something we talk about. We survey all of our homeowners after closing using a 3rd party company, and they have found that 97% of McArthur Homes homeowners would recommend us to their friends and family! That's way above industry standards and leading competitors.

So why are McArthur Homes homeowners so happy? Here's what a few recent home owners have said:

The McArthurs are great people who take pride in their business.

McArthur Homes stood out above and beyond all the other builders we looked at. We wished to move sooner but decided buying a used home and settling on features wasn't what we wanted. McArthur Homes presented beautiful homes and plenty of upgrade options to suit our needs, and most importantly our budget! We love our new home and can't wait to raise our son in it, and all other future children!

We love McArthur Homes! We looked at every builder and had determined that building was just too expensive for us. Then we stumbled upon McArhtur Homes. The home was so affordable, and huge! We got the home of our dreams and we were able to design parts of it. Our home buying experience was better then we dreamed, and we owe it all to McArthur Homes.

The kindness that was displayed and the patience. They helped me decided everything and they were so helpful.

The entire process was exceptional! However, if I had to choose the one I was most satisfied with was the fact of how patient they were with us. They never ceased to show patience in regards to our issues and helped us every step of the way to understand and resolve them. Exceptional customer service! 

 To read more comments from happy McArthur Homes homeowners visit our website, or our Guild Quality Survey page.

MSN's 10 Reasons You Should Buy a Home Now

MSN.com released a list of the top 10 reasons that buying a home now is a great idea. Their top 10 include:

Mortgage are cheap (As in, interest rates are low!)

You'll save on taxes

You'll get a better home

You can get a good deal

It offers some inflation protection

It's risk capital "Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy -- if it happens -- and still managing to sleep at night."

It's forced savings
 
And one of my favorites:

It'll be yours

When you own, you can have the kitchen and bathrooms you want. You can move the walls, build an extension -- zoning permitted -- or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible.
Also, you'll feel better about your home if you own it. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Prime Minister Margaret Thatcher had just begun selling off public housing to the tenants.
"You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy."
It was a small sign that said something big.

You can check out the full article here, http://articles.moneycentral.msn.com/Banking/HomeFinancing/10-reasons-you-should-buy-a-home-now.aspx?cp-documentid=25948264

Utah- This is the Place

Here is some great information about Utah from the Deseret News. What an awesome place to live!

Utah has claimed the top spot in Forbes magazine's annual ranking of "The Best States for Business and Careers." Deseret News

The magazine's "Best States" ranking measures six categories for business, including costs, current economic climate, growth prospects, labor supply, quality of life and regulatory environment.  Forbes noted that while states across the nation have suffered as a result of the national economic downturn, some states, like Utah, have weathered the downturn better than others. 

Deseret News
Promised Land- How Utah became the new economic Zion. Newsweek Nov 8, 2010
While nearly every local economy succumbed to the frozen credit markets, failing to grow much during the last two years, Utah has flourished. It set its own records for new companies (more than 40) and capital investment (nearly $2 billion). That has helped sustain an average of 3.5 percent annual growth during the last five years, more than any state other than energy-rich North Dakota.

The 75-mile corridor stretching from Ogden in the north to Provo in the south, has absorbed massive new data centers for eBay, Twitter, and Oracle; splashy new offices for Disney Interactive, EA Sports and a commitment from Adobe—the makers of Flash and Acrobat—to build a thousand-person software-development campus, where the minimum average salary will be $60,000.

The University of Utah recently tied MIT for creating the most companies out of its patented research: more than 80 since 2005. Provo has the most high-growth companies per capita in the country, according to Inc. magazine.

Expressing a shared sentiment among many business people who go to Utah these days, Sequoia Capital venture capitalist Michael Goguen said “We’re noticing.” Compelling sales pitch. It includes facts like cheap energy, low taxes, and top billing from list makers like Forbes. But the close is almost bumper-sticker simple: cheaper than Washington, cooler than Texas, as outdoorsy as Colorado … and not California. Gov. Gary Herbert touts how he is “making the state business-friendly while California is doing the opposite.”

Utah's biggest potential liability—its conservative, religious populous becomes an indisputable strength. Utah's people are, indeed, an employer’s dream. They are healthy, hard workers (pouring in 48 hours a week on average), and exceedingly stable, with the highest birthrates in the nation. The large number of young Mormons who spend two years on a conversion mission also means a huge swath of the population earned its sales stripes in hostile terrain.

Utah Notables & National Rank:
Employment & Income:
*           #1 "Best State for Business and Careers" & "Most Fiscally Fit State" Forbes
*           #1 "Expected Economic Recovery" & "Economic Outlook" American Legislative Exchange Council
*           #1 "Number of Research Produced Business Start Ups" University of Utah
*           #1 "5% Annual Household Income Increase"
      
*           #2 "3.5% annual economy expansion"

*           #4 "1.5% employment increase"
          
*           #5 or Better "1950 to 2009 Percent of Change Non-Farm Employment"
        
*           #8 or Better "AAA Bond Rating"
*           "Decrease of corporate tax rate from 7 percent to 5 percent" Deseret News
         
*           "Energy Costs 35% below National Average" & "45% World Export Increase"
         
Who has Taken Notice:
*           7000 Jobs Construction
*           1000 Jobs Adobe
*           800 Jobs ATK Aerospace Systems
*           700 Jobs Goldman Sachs
*           300 Jobs National Security Agency
*           300 Jobs MediConnect Global
*           250 Jobs Royal Bank of Scotland
*           200 Jobs ebay
*           Oracle, Proctor & Gamble, Boeing, Janicki industries & Twitter

Population & Demographics:
*           #1 "Household Size","Households Defined as Families" & "Median Age"           
*           #1 "Population Growth" U.S. Census Bureau
*           #1 "Birth Rate" National Center for Health Statistics
*           #3 "Life Expectancy"
*           #7 "Healthiest Population"
*           "80% of Population Speaks a Second Language"
*           "16,000 Estimated New Households in 2010"   

Supply & Affordability:
*           "Unoccupied Home Inventory Dropped from 3000+ in 2007 to 1000+ in 2009"           
*           "Interest Rates have never been lower & home prices are lowest in a decade"
*           "Interest on a $200k mortgage at 4% -vs- Interest at 8% increases monthly payment over $500"
*           #9 or Better "Economic Confidence" Gallup   
*Information collected from the 2010 Ivory Institute.

Check Out This Credit Repair Video

Remember, McArthur Homes is offering FREE Credit Repair from Nitro Credit from those who purchase a new home. For more information, email kristi@mcarthurhomes.com.

The Low Down on Credit Scores

Credit scores can be confusing and frustrating. The good news is that once you understand how to build your credit, your credit score can be your best friend. Check out the table below to see how building good credit can save you thousands of dollars on your new home.  I've also posted some information on how your credit is calculated. Thanks to Nitro Credit for all the helpful info. They are experts at credit repair!

Want to learn even more about building your credit? Join McArthur Homes and Nitro Credit for a FREE Credit Repair Seminar on November 6th at 10:00am. Located at the Thanksgiving Meadows Clubhouse, 3790 N. Bluegrass Blvd, Lehi Utah. For more information email jesse@mcarthurhomes.com




Our lives revolve around credit and FICO scores but sadly some people never realize it until it is too late. The chart below shows how much more someone with a lower credit score would pay over the term of a 30-year conventional mortgage loan for $200,000.
(5/2009)

Credit Score	Interest Rate	Cost of Your Credit
720-850	4.75%	$0.00
700-719	5.125%	$16,668.00
640-699	5.67%	$41,392.80
600-639	6.5%	$79,506.00

Your credit score is calculated based on credit-related information contained in your credit file. This information is analyzed in five different ways to produce a three-digit FICO score.

1. Payment History:
    35% of your score is based on paying your credit related accounts. Late payments and other negative marks drop your score quickly.
2. Credit Utilization:
    30% of your score is based on how much credit you have and how are you using it. If you are close to utilizing the maximum amount of credit limit provided you, this can reflect negatively on your score.
3. Length of Credit History:
    15% of your score is based on good payment history over a period of time.
4. New Credit Inquiries:
    10% of your score is based on the number of inquires coming from creditors.
5. Types of Credit:
    10% of your score is based on having different types of credit accounts such as home mortgage, vehicle, credit cards, etc.

New Herriman Library Opens Across from Herriman Towne Center

The brand new Herriman Library has just opened up across the street from McArthur Homes' Herriman Towne Center homes. The library's Grand Opening was Saturday, October 23rd. Local families flocked to the library to celebrate this exciting event, the start of many new facilities opening up at the heart of Herriman. The beautiful new library is located next to the new Herriman Recreation Center, which is currently under construction. The address is 5380 West Main Street. Click here for more information on the library, including upcoming events.

Come check out the beautiful new library, and while you're there, stop across the street to view McArthur Homes' newest community, Herriman Towne Center. Our model home is under construction and will open soon at this amazing location! For more information, email kristi@mcarthurhomes.com

Tips for Keeping Good Credit

Working in the home building industry, I have seen many people who have been held up from building their dream home, simply because their credit scores were too low. McArthur Homes has recently teamed up with Nitro Credit to help our homebuyers improve their credit scores. We are offering FREE CREDIT REPAIR to those who purchase a new McArthur Home.

Here are a few tips from Nitro Credit on how to keep good credit. I'll also be posting tips and ideas for building and repairing credit, so check back!


 It is very imperative that you continue to work to keep your credit scores high. A lot of people work hard with credit restoration companies and are able to get their terrible credit back in a place where they want it to be.

The trouble happens when the customer falls back in to their bad habits. They don’t maintain the good credit that they achieved through credit restoration. This can be very frustrating, especially to customers that really worked hard to achieve credit restoration. Here are some tips for helping maintain good credit once you restore it.

1. Stay on top of the amount of debt you have. Your credit card balance needs to stay 25% below the limit ideally. It is a good rule of thumb to remember to only charge what you can pay off every month.

2. Take advantage of bills that have the automatic pay option. This allows the deductions to come out right after you receive your paycheck. That way you aren’t late, and you know you have the money to cover the bill.

3. Don’t put up a lot of credit inquiries. Keep it down to a minimum. You may be used to applying for a few different lines, but stop that habit now. Only apply for lines that are essential and that you know you can pay off.

4. Pay your bills on time. You know this is important, but make a plan to get it to happen. Set up the automatic pay option, mentioned above, or make notes on your calendar when your bills are due. If you are forgetful, set up multiple alarms throughout the day so you don’t forget.

5. Don’t accept every credit offer that comes your way. Be picky about what lines you use. You want to be sure that you actually need it and know you will be able to afford it and pay it back.

6. Be smart and safe about your credit. Credit can quickly be ruined by others through identity theft. Be sure to have identity theft protection measures to prevent this from easily happening.

Why all the Buzz about Interest Rates?

So if you haven't heard everyone talking about LOW INTEREST RATES, you may be living in a cave. Interest rates are down as low as 4.375%. Compared to average rates of 7% that is a huge savings and compared to the 18% interest rates that my parents got on their first home in the 80s it seems downright unbelievable!

But what does that really mean to you? Interest rates can seem kind of obscure and not totally relevant to your bottom line. Here are some hard numbers to show you just how big a deal this really is:

$119,531 ... That's the amount of money you could save on a $200,000 loan over the life of the loan with a 4.375% Interest Rate vs. the historical average of 7%. (A bigger loan amount would mean even bigger savings.)

$14,232 ... That's the additional yearly income you would need to qualify for the SAME LOAN with 7% interest rates instead of today's low 4.375%.

$332.03 ... That's the bottom line savings in your monthly payment with a 4.375% rate vs. a 7% rate on a $200,000 loan.

So if you're waiting for the "perfect time" to purchase your new home, THINK ABOUT THIS: Buying now means you can get MORE HOUSE FOR LESS MONEY per month and you will SAVE MONEY ON EVERY MONTH OF EVERY YEAR on your payments until you pay off your home loan. Is there a $14K raise in your near future? Do you have an extra $120,000 that you'd like to throw away on interest payments? If not, now may be the perfect time for you to invest in a new home.


Thanks to Pierre Alley, McArthur Homes' preferred lender for his help in putting together this information. Click here to find out more about Pierre and financing your new home.

Here's all the math for you detail oriented people:
Parameters: $250,000 purchase price, Loan Amount: $200,000 or 20% down
Conventional, 30 year fixed rate
Rate of 4.375%, APR = 4.526%, P&I payment = $998.57, Total over 30 years = $359,485
Approximate monthly income need to qualify = $4278 (based on a conservative 28% ratio) or $51,335 or borrower needs to make $24.68 per hour
Same loan parameters
Rate of 7.00%, APR = 7.177%, P&I payment = $1330.60, Total over 30 years = $479,016
Approximate income needed to qualify = $5464 or $65,568 or borrower needs to make $31.52 per hour.

Saving with the lower rate = $332.03 per month or $199,531 over the term
Additional monthly income needed to qualify at the higher rate = $1186
All number based OAC.  

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.