finalizing horton deal

[nicole]

still shopping but so far I got this far.....
horton CMD model 27x76

base price of home $49,000
includes appliances
porcelain sinks
vacuum cabinets (not sure the name is correct)
upgraded MB
rock FP 1/2 wall
cathederal ceilings (not in BRs)
gridded window...std?
2 exterior faucets and elec. receptacles stdf?

add ons

HP $1975 says they do not come with AC heat standard (lie?)
if they did they would have to service them out of GA (lie?)

brick foundation $4,500 (block would be fine for us)
concrete footers $800 (just under piers)
elec rehook $250
osb flooring guesstimate of $380 additional
administration fee $500
no quote on vapor barrier

we are building the decks.
I opted out of the blue nail drywall...

anymore hints or a good place to help keep our costs down.
seems ok to me but really pushing our comfort zone by about
$3,000- $4,500 on the total loan amount.

we like to really pad the monthly budget in case of emergencies...
and do not want to have to ever worry on how to make the payment on time.

Nicole

[Bill Fry]

The brick foundation is something you can wait on.Just get it skirted with the vinyl for now(300 to 500 installed) and you can always do something else later.Wood latice when installed and trimmed correctly looks good and is a lot chepaer then block, brick or stucco.That would save you 4K at least
Remember a $800 morgtage is going to be over a thousand when you start adding on escrow-tax,insurance,and (PMI (if you need it

To get a escrow included 800 to 840 dollar a month payment you could borrow about 100K.Thats 30 years at 6.65 which would be 645 a month plus escrow(200 at least).Your credit determines your interest rate.At 5.5 it drops to 567. At 8 it goes to 733.You get the idea. .

[nicole]

to finance it has to be on a foundation.....with a land home package correct...
or am I getting led by the nose on this one too?

thanks
nicole

[Bill Fry]

Only if its an FHA loan.Who is doing the morgtage?Call the lendor(not the dealer) and find out what they require *specifically*.The brick around the home is only for show anyway,it non load bearing.You only need support on the outside wall under the outside doors.Your actual load bearing foundation is the piers and footers underneath the home.

[nicole]

big thanks bill I will find out!

i hope to avoid a fha loan...good chance we will but this is good news...I hope!

I am sure we can find a block layer cheaper than $4,500....seems to me our neighbor paid around $3500 for a 32x 80 fleetwood block underpinning..

and does not FHA also require footers under the foundation/ block skirting?

big thanks again for the tip!

Nicole

[Bill Fry]

FHA requires footers under the piers,you would have to have some sort of footer under the block skirting,even though the only weight it carries is its own.If it didn't it wouldnt stay up very long.

[rmurray]

"permanent foundation" means different thisng to different lenders...FHA is the strictest....If you call Regions as I suggested they will only require skirting..of any sort...