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Weston Dean Homes Blog

Blog Category - San Antonio New Homes

Understanding Your Mortgage

Categories: Homeowner Tips, San Antonio New Homes | Posted: May 24, 2019

calculate your mortgage payments

Weston Dean Homes, a premier New Braunfels custom builder, knows that your home mortgage is one of the most important payments you’ll make in your life. We also know that some of the lingo can be a little confusing, so we’ve shed some light on terms and general aspects of mortgages, below. Whether your are searching for a new home this spring or just moved into your beautiful new Weston Dean Home, it is good to have a full grasp on what makes up your mortgage.

First, let’s review some of the most commonly used terms associated with mortgages.

A mortgage, a home mortgage, or a lien refers to an “agreement between a bank and a lender to pay to lend money in exchange for a piece of property,” according this article about mortgages. An appraisal will give you an idea of the estimated worth of the property, and that amount will help dictate your mortgage.

Collateral is the property promised to a debt; that is, if you fall behind on your mortgage payments and have promised collateral, the bank may take back the possessions promised in order to recoup the money they haven’t been paid. Foreclosure is the legal process for the bank taking back the home and the property on which it sits; however, don’t get too worried about this bit. As long as you are able to make the minimum payments on your house, you should not worry about being foreclosed.

Principal is the amount left to pay back on the loan. This debt amount does not include interest, so principal isn’t a 100% accurate way of estimating your mortgage bills; interest, closing costs, and escrow will alter that number.

Homeowners insurance will cover damages due to theft, most natural disasters, and personal liability and varies depending on the insurance plan you select. This cost is another important factor in deciding to purchase a home; in addition to mortgage repayments, homeowners insurance is another significant bill to consider.

Your statement will have a lot of important information listed throughout it. At the top, a customer service phone number, address, and email will be listed; this contact info will help you get in touch with your loan provider, should you have any questions or choose to refinance. The top of the statement will usually also include your loan number and due date of your coming payment.

A section titled “summary” will usually include your current monthly payment, overdue total, unpaid late charges, and the total payment due as of the current statement. Generally, this total will include escrow, principal, taxes, and interest, and is the amount you will pay to your loan provider. Your interest rate, expressed as a percentage, is the amount charged for use of the borrowed money used to pay for your mortgage.

Your payment activity will usually be listed towards the lower portion of the page and reviews payments you’ve submitted and itemizes the escrow, interest, and other charges corresponding to each payment.

If you encounter any confusion when studying your mortgage bills, give your lender a call and they will be able to help sort things out.

 

Weston Dean Homes is a San Antonio area custom home builder. For additional information about Weston Dean building your San Antonio new home, please call (210) 408-9107.

Building Your Home with Weston Dean

Categories: Custom Home Design, San Antonio New Homes | Posted: April 26, 2019

homebuilding process with Weston Dean

When you choose Weston Dean, a premier New Braunfels custom builder, as your builder of choice for your dream home, you’re signing up for not only a great home but a great homebuilding experience. Read on to learn about our unique process for delivering you an amazing home in San Antonio.

There are 3 major phases of the design-build process with Weston Dean. First, we help guide you through the design portion. The second phase consists of construction, and the final stage involves putting you in your new home and backing it with a guarantee. We’ll cover each of the 3 stages briefly throughout this post, but you can refer to our Design Build Process page for extra details!

First, the design portion of the process. We’ll schedule a design & lot meeting to discuss your homesite and home design options, then get to work on drawing up a custom floor plan from scratch, modifying an existing floor plan, or perfecting one of our impressive floor plan options. You’ll have the opportunity to fine-tune any details before we move forward, determine cost, and hammer out a final contract and plans for you to daydream about.

Next, construction services will begin. We’ll help you work with your bank to obtain a construction interim loan and determine a plan that best suits you. Once your loan is closed, your lot will be prepped for groundbreaking and for the foundation to go in. You’ll get to work with our top-notch design team during this stage and start choosing design elements to be used throughout your home. Whether your preference is country comfort, Parisian chic, a striking modern look, or anything else, we like to say “your imagination and your pocketbook are your only limits here!”

You’ll have multiple meetings with the contractors and will be able to view your home’s progress through our innovative online Client Communication program. Of course, you’ll be able to reach out to us whenever you have questions or concerns–we’re here for you! Our third-party inspections will guarantee that your home is soundly built, and we invite our clients to hire their own third-party inspectors for yet another perspective. One week before closing you’ll have a walk-through to check for any final touch-ups or fixes to be made before you move in to your new San Antonio home.

Once you sign off during the walk-through, the final changes are made and you’ll get to move into your dream house! Weston Dean works hard to protect their customers from any damages or fixes, so we have partnered with ProHome for a 24/7 warranty management program. You will be taken care of with our 1 Year Craftsman Warranty, 2 Year Systems Warranty, and 10 Year BB Major Structural Warranty trio.

When the paperwork is complete and you’re all moved in, you’ll get to enjoy your brand new Weston Dean home! We are dedicated to providing homes our customers love, so if you’re building new in San Antonio, choose Weston Dean.

 

Weston Dean Homes is a San Antonio area custom home builder. For additional information about Weston Dean building your San Antonio new home, please call (210) 408-9107.