Hopefully, by now you have heard that Shea Homes is giving away, not one, but six Delta Touch2O® faucets this month.
If you haven’t entered yet to win, be sure to click here for your chance at one of these amazing faucets. If you’re wondering how a Touch2O® faucet could change life in the kitchen, take a look below at our top 8 reasons we love the Touch2O®! [read more…]
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Shea Homes San Diego has a strong, long-term relationship with local military families.
“Over 40 percent of our home buyers are either active duty or retired service personnel,” said Vanessa Linn, vice president of sales and marketing for the Shea Homes San Diego, recently recognized as a 2012 J.D. Power Customer Service Champion.
“This has made us hyper sensitive to the unique issues they face, such as the deployment of a parent, or the need to make a sudden and unexpected move.”
In honor of May 2012 National Military Appreciation Month, Shea Homes San Diego is including a free Whirlpool washer/dryer for all active duty and retired military buyers who open escrow this month.
“This is a simple way for us to say thank you to the men and women are serving, or have served, our nation,” said Linn.
National Military Appreciation Month recognizes over 90 million Americans: those on active duty in all branches of the services, the National Guard and Reserves plus retirees, veterans, and all of their families.
Through the years, Shea has tried some innovative ways to direct its resources to military families. Here’s a unique homecoming story, chronicled by columnist Diane Bell in the June 13, 2011 edition of the UT San Diego:
“Full house: When Anthony Tatum returns soon from the Middle East, the single dad, a 10-year Navy veteran, will be reunited with his daughter, 6, who has been staying with relatives. He’ll also find his Chula Vista home filled with furniture that wasn’t there when he left.
“When Tatum bought his new townhouse last December, he didn’t have time to furnish it before being deployed in January. After Tatum left, a model home in Shea Homes’ Agave development was sold unfurnished, so the developer is honoring Tatum for his service by giving him all its furniture and accessories.”
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Win a Delta Touch2O® faucet from Shea Homes
We all know that the whole is greater than the sum of its parts. But at Shea Homes, we also believe that every part matters.
That’s why we don’t compromise on quality and every Shea home comes standard with name brand products like Delta faucets.
In fact, to show our love for such great products, we are giving away six Delta Touch2O® faucets this month.
The Delta Touch2O® faucet is a fantastic addition to any kitchen. Take a look at this great Delta faucet video to see just what Delta Touch2O® Technology can do for you.
Then visit our contest page and enter to win!
Don’t forget to “like” each of our Facebook pages for the latest on community openings, news and promotions like this one.
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FHA Mortgage Insurance Rates Will Be Going Up on All New Loans Assigned April 9, 2012 and After.
FHA Loans are loans insured by the Federal Housing Administration (FHA). These insured loans minimize the risk lenders face by allowing buyers a down payment less than 20% of the price of the home. FHA Loans offer features that are attractive to many home buyers such as:
Because FHA loans allow a down payment of less than 20% of the purchase price of the home, mortgage insurance is required for these loans. Mortgage insurance premiums on FHA loans are much less than premiums for private mortgage insurance and most of the premium can be added to the loan. For FHA loans, a portion of the Mortgage Insurance Premium (MIP) known as the Up Front Mortgage Insurance Premium (UFMIP) is added to the loan balance rather than being paid out-of-pocket at closing. Then, the remaining portion of the MIP due is added to the monthly payment.
While FHA mortgage insurance premiums will continue to be lower than premiums for private mortgage insurance, FHA mortgage insurance rates will be going up on all new loans assigned April 9, 2012 and after. The UFMIP rate, which is included in the loan, will change from 1.00% to 1.75% of the loan amount. The MIP rate will change from 1.15% to 1.25% of the loan amount. Here is an example of how these changes will impact a loan for $400,000*:
| New FHA Loan (After April 1, 2012) |
Old FHA Loan (March 31, 2012 or prior) |
||
| Purchase Price |
$400,000
|
$400,000
|
|
| Down Payment % |
3.5%
|
3.5%
|
|
| Down Payment Amount ($) |
$14,000
|
$14,000
|
|
| Interest Rate |
4.25%
|
4.25%
|
|
| Up Front Mortgage Insurance Rate |
1.750%
|
1.000%
|
|
| Mortgate Insurance Rate |
1.250%
|
1.150%
|
|
| Tax Rate |
1.000%
|
1.000% |
|
| Loan Amount |
$392,755
|
$389,860
|
|
| Payment 1 |
$1,932
|
$1,918
|
|
| MI Payment |
$409
|
$374
|
|
| Total Payment |
$2,341
|
$2,291
|
|
| Taxes Monthly |
$333
|
$333
|
|
| Insurance Monthly |
$100
|
$100
|
|
| Other (HOA Dues) |
$144
|
$144
|
|
| Total Monthly Payment |
$2,919
|
$2,869
|
In the example above, the monthly payment goes up $50 per month. These changes can be compared as having a net effect of raising the interest rate of the loan by .25%. To buy down the interest rate by .25% to get the payment more in line with the former FHA insurance rates would cost about $8,000 out-of-pocket.
If you are planning to purchase a home using FHA financing, save money by purchasing your new home before April 1, 2012 to meet the April 9, 2012 deadline for the change in mortgage insurance premium rates.
*This purchase scenario is used for demonstration purposes only and may not be available at any or all communities. This information is provided for general awareness only, and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.
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