Can I use Solar energy with my Log Home?

There are many places in the USA where the use of solar energy makes perfect sense for your log home, and you may be surprised where they are. Before you rush out and buy all those PV panels have a look at this calculator.

An Eco-Log Home that makes Sense

The Sundance Eco-home is a fully featured log home with two levels each of 1615 square feet. The practical design has added green benefits that will significantly reduce home operating costs, while still incorporating a touch of luxury.

The home is built using our patented Phoenix laminated Western Red Cedar eco-log. What are the benefits of this? Firstly, you start with the moisture and insect resistance of western red cedar, add the strength and stability of using kiln dried laminations and you get an exceptional log for building.

Standard features in this home is a fully finished insulated basement configured in your choice of recreation or bedrooms, the latest in energy efficient heating and cooling, plenty of decking, and the MODI Green Roof System. Doing your bit for the environment also saves you money on heating and cooling.

And best of all you get all 3,230 square feet, plus deck, with Viking appliances, granite bench tops and all the rest for just $239,900 on your land, ready to move into. Just add septic, well, and site works.

 

 

Sundance Eco-Home Just a few extra reasons to consider the Sundance Eco-Home. Eco-Home Brochure

FEATURES:

• Bonneville Low E with Argon Windows
• MODI Green Roof System
• Granite Bench Tops
• Viking Appliances
• Acadia Heating and Cooling
• Eternal Hybrid Tankless hot water

This offer is only available for orders placed before December 31, 2008.

Call Toll Free: 800 998 6132
New England Cedar Homes

Preaching to the Choir: Why Wood Homes make sense.

Natural resources fuel the building industry, and many of the materials used deplete those resources at an accelerating rate. The world is becoming more conscious of how human actions can impact the planet. The best emerging choice is wood, a sustainable resource. With proper management, wood can supply our needs for generations while new young forests absorb more carbon dioxide and release more oxygen than old forest reserves.

New England Cedar Homes draws from these reserves and also with the implementation of new Timber Frame Building systems, many of our products are engineered to utilize smaller pieces of wood applied together to make a stronger, more efficient building member. Drastically reducing wood waste.

Why Wood?....
We build with a variety of materials, from traditional products such as steel, wood, concrete and masonry to more modern alternatives such as plastics and composites. Assessing the environmental impact of each of these materials requires a look at the full life of the product, from its extraction to manufacturing through its use in service to disposal. At every step, each of these products can impact our environment. Out of all of these materials, wood emerges as the most environmentally responsible choice available today. Wood's natural attributes make it uniquely suited to both the performance and environmental demands for modern building materials.

Wood is the only naturally renewable building material produced today and its existence alone generates many good things for the environment. For example, a young forest produces 1.1 tons of oxygen and absorbs 1.47 tons of carbon dioxide for every ton of wood fiber, which stores the carbon. A typical 2,400 square foot wood house represents 28.5 tons of stored carbon dioxide, or the rough equivalent of seven years' of emissions from a small automobile.

As a natural material, wood is safe to handle and use, is biodegradable and can be recycled easily. Wood is converted into thousands of products, from lumber, panels and paper to shoe polish, liquid soaps and cologne.

Forest harvesting and renewability....
There is a popular misconception that America's forests are disappearing and that we are running out of trees. The facts, however, show just the opposite.
Forest growth in the U.S. has exceeded harvest continually since the 1940s. According to the Forest Service , the U.S. forest inventory has actually increased by 39 percent since 1952.

The U.S. is the leader in reforesting, planting some 2 billion new trees a year. The forest products industry is responsible for 41 percent of all replanted forest acreage. Thanks to these efforts, there are 10 million more acres of forestland in the U.S. today that there were 15 years ago.

The forest products industry does more than just plant and harvest trees. As foresters, wood products companies follow rigorous standards and forest practices to protect the trees, soil, air, water and wildlife.

Responsible choices....
It all comes back to choices. If we are to join the growing number of responsible people who advocate the sustainable and wise use of our natural resources, we must measure our choices between one building material and another. We must look at all aspects of each material, from extracting to manufacturing to final use, and consider the variety of impacts such actions can have on our planet.

By nearly any measure, wood offers the best choice among building materials for most uses. It is strong, light, durable and safe to handle. It uses less energy over its lifetime, generates little pollution and is biodegradable for disposal. It is naturally renewable and there are ways to assure that the wood we use is being produced sustainably and responsibly.

We have the ability to take anything we want from this earth. But we also have the responsibility to take it wisely and give back what we can.
We all have choices. In building materials, there is only one clear choice: wood.

Finance your Log Home - Reality Check

Log Home Mortgage Reality Check

1. First, I think it is important to know that FUNDING IS AVAILABLE. We’ve surveyed several national bank managers throughout the US and they have indicated that many banks are finding that their local lenders have shifted away from construction lending. Therefore, there is a feeling that banks are not lending on new construction currently. While it is true that many banks are reducing risk in their portfolios by eliminating construction programs, there are certainly many banks that are still offering fair and competitive construction options. More than ever before, you may need to more aggressively look for those lenders that still support new construction lending.

2. It is very important that you understand that borrowers WILL NOT be able to get approved for as large of loans as they could in the past. One of the most important factors that Fannie Mae and Freddie Mac have altered is the maximum debt to income allowance. Moving forward, the maximum total debt allowance will be 45%, based on verifiable taxable income. In the past, the debt ratio could go as high as 60% in some cases, if the credit scores were high and the loan to value was lower than 80% - these compensating factors allowed investors to allow for higher debt to income approvals. Now, as a result of the millions of people that cannot currently afford their payments, the investors have established a more conservative and firm line. How does this impact someone planning to build? For example, a couple with gross earnings of $8,000 per month and current debt obligations of $2,000 a month, would qualify for roughly $50-$80,000 less of a loan amount. Clearly, this will make a HUGE impact on the budgets that you can afford. For this reason, more than ever before, you will want to be sure you pre-qualify for financing as early as possible. Don’t risk your time and effort to find out that you cannot fund the home you are planning.

3. Build up – not down. I have stressed this in the past, but it can never be covered too many times. Finished space (including bedrooms and baths) that are planned for the basement area, regardless of whether it is a walk out, WILL NOT be counted by the appraiser when they look for comps. From my experience, especially in the current housing market, I would recommend that you do not consider home plans with less than three bedrooms and two baths that are all above grade (for those folks needing construction loans). If you are using cash or an equity line to build, they can do anything you desire. However, you will be at risk should you need to sell the property later. For customers needing conventional financing, if a customer needs additional finished space, it is always better to build a second story than finish rooms in a basement.

4. I wanted to again review the current credit score requirements and maximum loan to value allowances. For borrowers with credit scores of 700 or higher, we can currently offer up to 95% financing in most cases (based on the lower of the appraisal or the acquisition cost of the land plus the turnkey build costs) for a new primary residence. For borrowers with credit scores ranging from 660 to 699, the maximum financing is 80%. For second homes, the maximum lending currently allows for 80% (based on the lower of the appraisal or the acquisition cost of the land plus the turnkey build costs).

5. As we are all aware, home values in many areas have been decreasing. As a result, mortgage insurance providers have restricted their issuance for coverage in many areas to mitigate risk. These new “restricted” market lists essentially limit the maximum loan to value to 80% in certain parts of the U.S. To find out if the areas where you sell are affected, go to the website of major mortgage insurer MGIC at http://mgic.com/guides/restrictedmarkets.html. Or, after you meet a customer, plug in their property zip code. The site will let you know whether the market qualifies for standard or restricted mortgage insurance guidelines. These guidelines will change quarterly based on housing sales data. If your area is restricted, you can be mentally prepared that your customers will need 20% down payment from their lot equity or from available cash.

6. A fast moving trend that has occurred over the past 12-18 months is the addition of builder approval requirements to obtain construction lending. As banks consider risk management, especially for new construction, it is not only the borrower that can make a loan go south. While the bank does not have a direct relationship to the chosen GC for the build, indirectly they will want to know that the builder is on relatively solid financial footing. They will also want to see that the GC has a reputation of paying sub-contractors and/or materials providers. As a result, they will be asked to provide financials or tax returns, as well as agree to a credit check as part of the borrowers overall loan approval processing.

7. Finally, one of the biggest changes that will impact our industry is the elimination of Owner Builder or Owner General Contractor loans. One only needs to look to the failure of IndyMac Bank to understand why lenders no longer offer these construction loan options. While the concept of Owner Builder and/or Owner GC seems solid on paper, the statistics for failure to meet original budget or finish within the allowed construction term for these loans are simply overwhelming. Based on our experience, there is roughly a 33% failure rate. As a result, and as stated in the past, American Home Bank has completely discontinued any options for Owner Builder or Owner GC projects. In our current program, the borrower will be allowed to submit a maximum of three separate contracts to establish their turnkey budget and they must have a general contractor of record. As stated above, the GC must meet the banks builder approval requirements.

Uncle Sam Offers Down Payment Help for Home Buyers

Many of us are shocked and dismayed at the amount of money the federal government is spending on Wall Street businesses that are failing. Well it is about time that Uncle Sam did something for Main Street and now its happening!

The Federal Government wants to help you to participate in the dream of buying your own home. As part of the Housing Stimulus Bill, Congress created an unbelievable opportunity for first time buyers, in the form of a tax credit for those who purchase a home before July 1, 2009. With most lender programs now demanding higher down payment, that $7500 can be the bridge to your future.

The tax credit is a "refundable" credit, of up to $7,500 or 10% of the purchase price of their home, whichever is less.

Who is eligible? Any person who has not owned a principal residence in the three years prior to closing and meets the income limitations $75,000 individual and $150,000 for married couples. Also $95,000 individual and $170,000 married can receive a partial credit.

How do you qualify? Meet the definition of "first time buyer" you must purchase and close on a home prior to 1 July 2009. Log homes, post and beam homes, timber frame homes, and modular log homes qualify and sales are expected to heat up because of this new path to home ownership.

Do I have to pay the money back? Yes - but not immediately. The credit is an interest free loan for up to 15 years. The credit must be repaid at a rate of 6.67% per year starting two years after the purchase. Unpaid balance due at time of sale. You could even pay the full $7,500 by increasing your Federal income tax withholdings by only $20 per paycheck!!

Not quiet free money but a very economical way to get the down payment you need to buy your own home. Probably the only opportunity we will enjoy in our lifetime for an INTEREST FREE government loan.

How do I get the money? Talk to your tax advisor. It appears that you can receive a credit against your 2008 or 2009 Federal income Tax. It will reduce your tax bill and increase the amount of your refund. Dont Wait. Now is the time to start the paper work so you will in a position to purchase your home as soon as your 2008 federal tax return is ready to mail in.

We have loans ready for your new home. You can check out our lenders or contact us for assistance.