Home Improvement Money Is Available

Buying a house that needs repair is often very challenging, because lenders won't lend the money to buy the house until the repairs are done, and the repairs can't be completed until the house has been bought. Also, in today's quirky market, getting home improvement money from a bank or lending source if one already owns the home is near impossible because banks and lenders are only issuing (approved) home equity or standalone second loans up to 85%, sometimes 90% of the properties current market value, and even if such a loan is made, the rates and terms are daunting, thereby putting such loans out of reach for most homeowners. Credit card companies are reducing people's limits, always changing their terms and are not viable options for home improvements. Not to mention, who can or wants to borrow megabucks on a credit card?

The Office of Housing and Urban Development's (HUD) 203(k) program can help you with this challenge and allow you to purchase or refinance a property PLUS include the cost of making the repairs and improvements. The FHA insured 203(k) loan is provided through approved mortgage lenders. It is available only to approved people who intend to occupy the home. Multi-family properties and mixed-use properties also may qualify, under certain conditions.

The down payment or equity requirement is 2.25%.

In short, the 203(k) loan includes the following steps:

- A potential home buyer finds a home and executes a sales contract after doing a feasibility analysis of the property with their Realtor and chosen contractor(s). The contract should be contingent upon the borrower's 203(k) loan approval. Also, the seller needs to allow visits from a HUD consultant & contractor to analyze the cost estimate and extent of work needed and or wanted.

- The home buyer then selects an FHA-approved 203(k) lender or broker and arranges for a detailed report showing the scope and type(s) of work to be done, including an itemized cost estimate on each repair or improvement of the project.

- An appraisal is ordered to determine the as is value as well as the value of the property after renovation.

- If the borrower is approved, the loan closes for an amount that will cover the purchase or refinance cost of the property, the improvement costs and all allowable closing costs, which is generally about 3% of the loan amount. The amount of the loan will also include a contingency reserve of 10% to 20% of the total remodeling costs and is used to cover any extra work not included in the original proposal. Any unused funds from this reserve account at work completion are used to pay down the loan balance.

- At the closing, the seller of the property (or the homeowner's current lender, in the case of a refinance) gets paid off and the remaining monies are put into an escrow account to pay for the repairs and upgrades during the rehab period.

- The mortgage repayment and construction begin right after the loan closes. The borrower can choose to have up to 6 mortgage payments (principal, interest, taxes and insurance) put into the cost of rehabilitation if the property is not going to be or cannot be occupied during the improvement process, but it can't exceed the length of time it is estimated to complete the improvements.

- Escrowed funds are disbursed to the contractor during the construction through a series of HUD-approved draw requests for completed work. To ensure completion of the job, ten percent of each draw is held back; this money is paid after the lender determines there will be no liens on the property.

If you're a homeowner or prospective buyer of a "fixer upper" and you are seeking home improvement money, you should strongly consider exploiting this resource. Note: self employed applicants are extremely difficult to qualify due to their absence of declared net income. These are fully documented loans only, no "stated income" or "ALT-A" home improvement loans like this exist, unfortunately.

If you are a home improvement specialist that is losing jobs because of the demise of homeowner equity and a lack of homeowner payment options, you really should read up on this a bit more. If you are a Realtor who knows of fixer upper properties, you also should research this a bit more. It's what the market right now is starving for!

As always, I'm here to help!

~ Jamie

For more, visit http://www.mortgagemagician.blogspot.com

Building Stairs With Old Concrete - Remodeling Ideas

What a great idea using your old side walk or driveway to build a nice stairway for your front or back yard. Using the old concrete instead of sending it to the landfill. Wow talk about earth friendly. Who would have thought that using recycled concrete would create a beautiful center piece in your landscaping plans.

That's enough about that lets get to the nuts and bolts of building the stairs. I came across the idea by visiting one of our favorite breakfast stops in Fallbrook. I had been walking down these stairs for quite a while when it dawned on me that the stairs where kind of jagged. When I took a closer look I couldn't figure it out, What kind of building materials did they use.

Then I realized it was recycled concrete in other words someone's old side walk. They even used the old concrete to make some nice planter boxes and retaining walls. The whole area really looks nice. The landscaping created natural look with a old world look to it.

How do I build the stairs using recycled concrete? Simply put first thing you need to do is get some recycled concrete. If you are going to be tearing up a old sidewalk, driveway or patio then you won't have to look far.

If not you can contact some local general or demolition contractors. They would love to have someone haul away their concrete. The reason for this is they have to pay around five hundred dollars for every ten tons hauled away from the jobs they are working on.

The more recycled concrete you need the easier it will be to get it. If you need a lot you will be able to contact a concrete recycling plant and get the phone number to a local contractor that hauls broken up concrete to their plants. These people can drop off a large load if you have a large area to drop it.

Remember that most contractors don't want to be bothered because they are busy working or planning on working. The easier you can make it on the contractor the more likely you will get what you want from them. They usually aren't interested in doing extra work just to make you happy. You can get a lot by being courteous from most people.

Now that you have the concrete you can start building. The concrete will be stacked on top of the other concrete to form the steps. Depending on how long of a stairway you are building you will have to level the dirt and stack the recycled concrete to make the stairs.

Greg Vanden Berge is working on the internet to promote the education for creating simple to follow guides and home building books to help professional building contractors as well as the weekend warriors. He is currently working on more building stairs books and adding useful content to help solve problems created by the lack of construction knowledge in the building industry

Visit us now for more great Home Remodeling Tips

Environmental Construction Products

Trends in sustainable and environmentally friendly construction continue to inch towards the mainstream, with new products being introduced almost daily that are more cost effective and efficient than ever. Here are some products and trends in environmental construction:

Walls

Use of alternative building materials, including reclaimed woods, recycled metals and non toxic materials are making homes more green from the inside out. Even insulation is becoming more green, with wider usage of a mixture of recycled cotton and denim materials instead of toxic and dangerous to install traditional insulation.

Flooring

There's a wide range of environmentally friendly flooring options. From concrete to stones, recycled metals, recycled tiles, recycled glass, reclaimed woods, sustainable woods, bamboo, cork and even more environmentally friendly linoleums.

Paints and Finishes

There is now a large amount of paints and stains available for your interiors, including walls, floors, bathrooms, staircases and all your surfaces. These new products are either non-toxic or use much less toxic chemicals, making the eco-friendly choice also the most healthy choice for environmentally sensitive people. In addition, these less toxic paints and finishes are much easier to dispose of.

Carpeting

Traditional new carpeting uses a lot of chemicals to produce. In addition, the installation of new carpeting will typically fill the indoor air in your home with what are called "VOC's" or volatile organic compounds. These compounds include chemical carcinogens like benzenes and even formaldehyde. That new carpet smell is actually a cocktail of chemicals you are breathing. These chemicals can take several years to dissipate from your indoor air. By using eco-friendly carpeting, you are eliminating or severely decreasing the amount of chemicals you are bringing into your home. Also, the materials used in eco-friendly carpeting are typically recycled or sustainable. Most carpets need padding and these too can be loaded with chemicals. Instead, homeowners can choose new environmentally friendly carpet padding that is made from recycled cotton.

Cabinetry and Countertops

Even kitchen and bathroom cabinetry and countertops can be eco-friendly. New cabinet options include cabinets made from completely sustainable woods using non-toxic finishes. For countertops, new non-toxic composite materials including quartz and recycled glass chips are available. Even the glue used to adhere the cabinets to the countertop can be an eco-friendly water based glue product.

Whether you are building a new home, remodeling or simply performing some upgrades, you won't want to ignore the many eco-friendly options.

Lydia Quinn writes for Brandon Safety Lights, a leading provider of solar barricade lights, barricade light accessories and traffic safety supplies. Visit us at: http://www.brandonsafetylights.com

Precast Concrete 101 - Home Remodeling

Unless you are a precast concrete manufacturer, you probably don't fully understand the difference between using concrete over other building mediums. Concrete is perfect for structural building because of its efficiency, strength, durability and resistance to the elements.

Since the days of ancient Roman builders, concrete has been used for basic structures. The Romans used concrete to build their complex infrastructure of tunnels, aqueducts and culverts. Today concrete is used for building foundations, storm and sanitary sewers, septic tanks, electrical and communications vaults and for a variety of other purposes.

Precast concrete refers to a construction process where contracts is cast in a reusable mold or form. The concrete is them cured in a controlled environment so it can be transported to the construction site and lifted to its ultimate destination. The process differs from using standard concrete, which is poured and cured on site.

Many different forms exist for precast construction based in different architectural applications. Concrete is the perfect material for safety, health and even protecting the environment. For this reason, more San Jose precast concrete contractors are using this material for projects of all sizes and functions.

Concrete is structurally sound and actually gets stronger over time, rather than deteriorating like many other building materials. The serviceable life of concrete can last up to 100 years or longer. Concrete is even resilient and durable enough to use for highway barriers.

Another benefit of concrete is its resistance to the elements. It is noncombustible and does not quickly lose its structural integrity under high temperatures. Concrete also withstands corrosive agents and chemicals. The UV rays from sunlight will not degrade the composition of concrete. From the hottest summer days to the coldest winter freeze, concrete stands up to all weather conditions.

Because precast concrete is already cured, construction is not as dependent upon the weather conditions. It takes less time to install so contractors find it easier to stay on schedule. This type of concrete can also be installed on demand.

Precast concrete is easily used for large projects because of its modular nature. All kinds of systems and structures are put together with ease. The products arrive at the job site ready to install. Its availability ensures a ready supply and fair pricing so the construction project is completed more efficiently.

Structures made from concrete are also watertight and airtight. High quality sealants are used along with seamless construction patterns so water and other airborne elements will not compromise a concrete structure.

Whether you're a homeowner or a large corporate mogul, concrete buildings and structures offer superior security and durability at an affordable price. With a variety of aesthetic options, concrete is the most versatile, reliable building medium around.

If you want to learn more about precast concrete visit a leading precast concrete manufacturer website to find out more. JensenPrecast.com is a leader in the San Jose precast concrete industry offering a wide variety of solutions for infrastructure projects of all kinds

Leveling Your Floor - Home Repair Tips

If you've ever been in a building where you feel like you are getting pushed to one side and you can't seem to stand up. You have either been drinking too much alcohol or the floor could be sloping. I was just in a store the other day that was full of antiques and glass but I could hardly stand up because the floor was sloping enough to create what I would consider a liability issue to the store owner.

Sloping floors are not going to be that easy to fix and repair. Repairing these floors will require a little skill and it would be a good idea to hire a professional to repair the damage. This is not going to be a simple fix and this is probably the main reason most people never choose to fix their sloping floors.

Fixing these floors will require either pouring a new concrete slab, replacing the wood floor framing members or replacing the actual building foundation itself. No matter how you look at it the sloping floor is going to be a costly item to repair.

What causes a sloping floor? Termite damage or dry rot destroying the wood framing or it could be as simple as a water leak over a long period of time causing the building foundation to sink and become out of level. Poor soil conditions with either too sandy or an expansive clay soil could be the culprit also.

Sloping floors can be damaged from incorrect landscape drainage. This would involve water settling around the foundation of your home and over a period of time the weight of the house along with soil problems can create the building to start sloping to one side.

The number one contributor to a sloping floor again like most damage done to a house is going to be water. Do your best to keep the water away from the house using roof gutters and landscape drains. These items are relatively inexpensive compared to the costs involved in repairing sloping floors.

Greg Vanden Berge is working on the internet to promote the education for creating simple to follow guides and home building books to help professional building contractors as well as the weekend warriors. He is currently working on more building stairs books and adding useful content to help solve problems created by the lack of construction knowledge in the building industry.

Find out more about Water Damage.

I Have A Squeaky Floor

How Today's House Plans Can Lower Building Costs

A home plan is a set of construction documents that serve as the "assembly" manual for a new home.There are no standards or laws that require specific information on these drawings so there is a wide variety in the quality of the plans available on the market today.Some plans show only a floor layout and a simple front elevation.Other plans show more details and include accurate dimension lines, construction details and wall cutaways.But regardless of how detailed the plan may be, the plan is typically designed for one specific lot, one specific region and one set of building codes.An intelligent home plan has the ability to meet any lot, region or code.In fact, an intelligent home plan can make a new home less costly, more efficient and easier to build.

Intelligent home plans are comprised of a sophisticated set of drawings that detail every aspect of home construction.These drawings are created in a way that makes updates, changes and modifications quick and easy.According to Bill Elliott, COO of a national home design studio, the biggest downfall of most online home plans is the difficulty of making changes and modifications.Most home plans will require some type of modification to meet the needs of the home owner, builder or local building code authorities.It is this hidden cost that most people don't see.Builders may purchase a home plan for a few hundred dollars and then spend thousands more to update and change them.Even worse, if the plan is poorly done, the costs needed to modify the plans may be more than creating a brand new plan.

An intelligent home plan is designed to be flexible.They are drawn in a way that supports efficient and rapid changes.Similar elements used in the drawings are grouped together and saved in layers for quick access by any designer.Line weights and dimensions are uniform throughout the plan set and the information is detailed and accurate.These root fundamentals form the foundation of every Intelligent Home Plan - a collection of informative documents that sets the tone for the entire building process.Each intelligent home plan links the designer, builder, contractor, supplier and home owner together into a single organized team.

More than just a nice drawing, intelligent home plans translate the home design into functional packets of data used throughout the building process.Exact dimensions are used for accurate quotes and product specifications.Structural data is dissected to ensure code compliance and building integrity.Design details are interfaced with automated saws and joiners to speed the assembly of walls and floors while realistic virtual models ensure the final product meets every need of the most demanding buyer.Intelligent Home Plans can interface with a variety of software and hardware currently servicing the building industry.Dependable and consistent data from these designs feeds these independent support services and links them together into coordinated and managed processes.

The reliable, accurate and flexible nature of intelligent home plans creates a seamless translation of data across all phases of home construction producing a higher quality home at less cost.In the past, home plans were merely lines on paper used to build a home.But today's challenging housing market places demands on the home building process that cannot be met by a few sheets of paper.Only intelligent home plans can deliver the data needed to build the homes of tomorrow at an affordable price.

Contact:
Craig Sherrett, Director of Sales & Marketing
AVID Home Studios, LLC
888.280.2843
http://www.avidhomestudios.com

Leveling Your Floor - Home Repair Tips

If you've ever been in a building where you feel like you are getting pushed to one side and you can't seem to stand up. You have either been drinking too much alcohol or the floor could be sloping. I was just in a store the other day that was full of antiques and glass but I could hardly stand up because the floor was sloping enough to create what I would consider a liability issue to the store owner.

Sloping floors are not going to be that easy to fix and repair. Repairing these floors will require a little skill and it would be a good idea to hire a professional to repair the damage. This is not going to be a simple fix and this is probably the main reason most people never choose to fix their sloping floors.

Fixing these floors will require either pouring a new concrete slab, replacing the wood floor framing members or replacing the actual building foundation itself. No matter how you look at it the sloping floor is going to be a costly item to repair.

What causes a sloping floor? Termite damage or dry rot destroying the wood framing or it could be as simple as a water leak over a long period of time causing the building foundation to sink and become out of level. Poor soil conditions with either too sandy or an expansive clay soil could be the culprit also.

Sloping floors can be damaged from incorrect landscape drainage. This would involve water settling around the foundation of your home and over a period of time the weight of the house along with soil problems can create the building to start sloping to one side.

The number one contributor to a sloping floor again like most damage done to a house is going to be water. Do your best to keep the water away from the house using roof gutters and landscape drains. These items are relatively inexpensive compared to the costs involved in repairing sloping floors.

Greg Vanden Berge is working on the internet to promote the education for creating simple to follow guides and home building books to help professional building contractors as well as the weekend warriors. He is currently working on more building stairs books and adding useful content to help solve problems created by the lack of construction knowledge in the building industry.

Find out more about Water Damage.

One Step Handrailing