What is a Construction to Perm Loan?

There is not one specific definition for this type of mortgage as banks offer many different variations of this loan.  Also, construction to perm loans can be done for new construction or remodeling.  The basics are:

A one step or two step loan process.  With the one step process, the initial construction loan is then converted into the longer-term mortgage.  With the two step process, one loan is provided for the construction and then another loan is provided upon the completion.

Depending on the loan type selected, interest rates can vary greatly.  Some people choose a floating rate, others choose to pay for a lengthy lock and guarantee a fixed rate.

The two step process usually incurs added expenses for the homeowner as they have two closings and thus, two sets of closing costs.  That being said, a benefit of the two step process can be that the homeowner can shop for the best possible terms just a few weeks before closing on the second loan.

THE TITUS WOMAN MINISTRY LAUNCHES NEW, UPDATED WEBSITE

The Titus Woman Ministry is a 501 (c)3 faith-based nonprofit organization dedicated to serve the community through the holistic development of women in need.

One of our primary goals is to construct and operate a homeless shelter for women and their children in the Waller area, with the intent of equipping the women to enter (or re-enter) mainstream society and become self-sustaining and providers for their children. This proposed shelter will be constructed in Waller County, Texas and will house families from all the surrounding communities.

We have opened a resale shop, name Grace & Mercy, on March 1, 2008. Funds obtained from sales of merchandise at the Grace & Mercy resale shop will help fund this project, we are asking for the support of your church and the community to make the vision a reality. Come out and buy our resale merchandise.

Any donations to this worthy cause will be appreciated.

The shop is called Grace & Mercy for it was God’s grace that gave us the vision and His mercy will allow us to carry it through. Can we count on you?

The resale shop wiill carry furniture, clothing (for the family), household goods, and much, much more. It is located at 71 Scroggins Lane Waller, Texas (off FM 1488 In the Held Store Mini Warehouses). The grand opening was March 1, 2008.

For further information and/or donations, contact Rosemary Butler @ 936-931-1726; 281-682-4177 or Carol O’Brien @) 281-302-S333 or Fern Poyser at 936.931.3344. Pass the word and support this God given vision. We thank you in advance for what you will do.

Fern Poyser UPDATE on Titus Woman Ministry

The Titus Woman Ministry is preparing to take Waller County for Jesus!

We have secured retail space in the Fieldstore area of northern Waller county to open the Grace & Mercy resale shop.  This will enable us to be open more often in an effort to generate the funds necessary to work towards the shelter for women and children in Waller county.

We praise God for this small stride and look forward to many, many more fruitful days and bountiful blessings as we reach out to the community.

FINGERPRINTING REQUIREMENTS FOR TEXAS REALTORS

A recently enacted law (HB 1530, 80th Legislature, Regular Session) requires any person applying for or renewing a broker or salesperson license on or after January 1, 2008 to provide their fingerprints, in a specified format, in order to enable an FBI criminal history check to be performed. These new fingerprint requirements apply only to brokers and salespersons. They do not apply to other TREC licensees, such as home inspectors. Once fingerprints are on file with DPS for a TREC license, a licensee will not need to be fingerprinted for subsequent renewals.

This new fingerprinting requirement for Texas realtors is very welcome.  This is good news for the real estate community.  It will give homeowners and property owners a greater sense of security knowing that the people responsible for selling or showing their homes are not wanted for any crimes.  Also, should any criminal activity occur within or on a property owner’s property, the law enforcement agencies can quickly and easily identify the perpetrator(s) through this new fingerprinting requirement.

The Texas Real Estate Commission (TREC) conducts background checks on ALL licensees.  This new fingerprinting requirement will NOT affect current licensees’ licensing status UNLESS that person has committed a new crime and is convicted of a felony offense within the state of Texas. 

If a licensee has committed new crimes and has new felony convictions which were not reported to TREC since he or she last applied for a real estate license, the new convictions resulting from a background check may or may not hinder the issuance of a real estate license.  TREC will decide if the licensee’s license should be renewed after conducting their own independent investigation of the circumstances surrounding the new felony conviction.

Under no circumstances will TREC suspend or revoke a licensee’s license unless (1) they falsify or try to hide any new felony convictions (2) they willingly lie about having new felony convictions (3) they refuse to submit to fingerprinting and background checks and (4) they fail to pay their renewal fees or honor any delinquent debts owed to TREC.

 

New Homes: What’s Old is New Again

While homebuilders all over the country are searching for ways to beat the odds in a depressed housing market, one small New York builder is doing it one house at a time.

Former commercial builder Charles Petersheim left Manhattan right after 9/11 for Sullivan County, a remote stretch of the Catskill Mountains.

The first job he landed there was fixing up the barns. It was then that he got the idea to create homes that echo the past using a well thought-out combination of salvaged and new materials. The result? The Catskill Farms — brand new 100 year old farm houses. While capturing the charm, beauty and character of the early 1900’s, all the hassles and maintenance related to an old house are eliminated.

These vintage style homes boasting reclaimed barn beams, old mantels and banisters, clapboard siding, wide-plank floors, cast iron radiators and clawfoot tubs are built from the ground up – but are also appointed with all the modern conveniences, such as whole-house audio and automated security systems — giving the term “shabby chic” new meaning.

His buyers? Urbanite New Yorkers cramming themselves into small rental spaces during the week have been buying one of Petersheim’s homespun creations for weekend retreats — a welcome alternative to taking on the types of projects featured in TV programs like “This Old House.”

Just goes to show you that they CAN build them like they used to — only better.

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