Grand Opening: “Tres Lagos” Master-Planned Community in McAllen, Tx

Grand Opening October 14 & 15, 2017
Saturday: 9am – 9pm, Sunday: 1pm – 9pm
Southwest Corner of Ware Road & Monte Cristo, McAllen, TX

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Come celebrate the opening of McAllen’s new 2,571-acre master-planned community with three beautiful distinctive neighborhoods consisting of 5,000 single-family homes, 1,000 townhomes, 2,000 multi-family homes, and over 1.5 million square feet of commercial and retail space.

Residents of Tres Lagos will enjoy an exceptional lifestyle close to work—surrounded by recreational areas that include over 200 acres of parks; 20 miles of hike and bike trails; a multi-million dollar community center featuring swimming and fitness facilities; sports courts; soccer fields; and over 100 acres of lakes for paddle boating, swimming, and fishing.

Tres-Lago-Plat.pngTres Lagos developer Mike Rhodes, the founder of Rhodes Enterprises, is the visionary of this mega master-planned community. For years, Mike Rhodes has been a leader in transforming the Rio Grande Valley’s landscape, developing communities that provide beautiful homes, create jobs, and improve the quality of life for Valley residents.

Among the most notable achievements of Tres Lagos, an ecologically focused community, is that it will be the first in South Texas to offer a water reuse program that ensures no restriction irrigation while also supporting water conservation. This remarkable new master-planned community will also be the first to offer a fully wired-in community with Fiber-to-Home and bundled technology, including Gigabit speed internet—300 times faster than the average high-speed Internet, along with community-wide surveillance cameras monitored by the McAllen PD with video feed capability for residents.

Tres Lagos offers 3 neighborhoods with spectacular affordable homes for a variety of budgets ranging from the $180’s to $1 million: Escondido, Ensenada, and Estancia. Educational amenities will include Edinburg ISD schools and a highly rated Idea Charter school offering priority to Tres Lagos residents, as well as a branch of Texas A&M University coming in the Fall of 2018.

We invite you to visit Tres Lagos for the Grand Opening and enjoy a memorable celebration with plenty of food, refreshments, and live entertainment from notable bands. Bring the kids and grandparents and make it a family outing. Tour the showcase model homes and see for yourself how easily you can live life by design.

Tres Lagos Communities

ESCONDIDO – Homes from the $180’s to $240’s by Esperanza Homes (180 lots).
Click here for more info about Escondido. 
ENSENADA – Homes from the $250’s to $350’s by Esperanza Homes and Infinity Homes (80 lots). Click here for more info about Ensenada. 
ESTANCIA – Estate lot section with reservations available now. Lots range from the $100’s to the $190’s (50 lots). Click here for more info about Estancia. 

For more information, visit TresLagosMcAllen.com; email info@TresLagosMcAllen.com, or call (956) 287-2800.


Follow us on Instagram for a daily dose of beautiful new homes in the Rio Grande Valley! Click here: @RGVNewHomes

© 2017 RGV New Homes Guide & Across Media Marketing, LLC.

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to RGV New Homes Guide with appropriate and specific direction to the original content.

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6 Reasons To Buy New

If you’re in search of a new home, you’re likely debating the benefits of a newly built home versus an established one. There are several factors you should consider before you start your search. Too many people pass up an opportunity to build their own home without thinking about the pros of new construction. Let us give you some thoughts to ponder.

Benefits of Building a New Home

Imagine for a moment you get to decide everything about your new place. These are the benefits of being able to build new and choose every aspect of your new home’s design:

1 | Easier to Maintain: Since everything from your roof to the HVAC system are brand new, you don’t have to worry about what will stop working. You get new warranties with new construction. This will help guard against major repair costs. It also means you won’t have to save as much money for when something like the water heater needs repair.

2 | More Efficient and Healthier: For example, take the Built to Save™ program—you can connect with contractors who know how to build energy efficient homes. They also understand which building materials are healthier. For instance, they can help you choose low and zero-VOC (volatile organic compound) building materials and paints that are better for your indoor air quality.

3 | Floor Plan: In a new home, you get to select how you want your house laid out. If you want a formal dining room, you can have it. If you want an open floor plan with floor to ceiling windows, you get to decide that, too.

4 | Personalized Materials: A new home allows you to decide on special features. For instance, you can choose the type of flooring or countertop material you want to use.

5 | Location: New homes tend to be built in communities that are designed for lifestyles, such as proximity to parks, schools, or public transportation. That means you can choose your new house based on a neighborhood that best suits what matters to you.

6 | Timing for Moving: It takes about five to six months to complete a new home build. This will give you time to plan for your move to take the pressure off of the process.

Remember, a new home might seem to have a higher price tag, but being able to personalize your home and save money over time will be worth the cost in the long run.


Follow us on instagram for a daily dose of beautiful new homes in the Rio Grande Valley! Click here: @RGVNewHomes

© 2017 RGV New Homes Guide & Across Media Marketing, LLC.

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to RGV New Homes Guide with appropriate and specific direction to the original content.

Homebuyer’s Glossary of Terms

When you are building or buying a new home, there will be plenty of words used that might not mean anything to you right away. However, it’s important to know these terms, as they play a large role in the process you will go through to apply for a mortgage. Here are few that are often used in the homebuying journey.

Annual Percentage Rate (APR): The APR is the yearly interest rate. It is reflected in the cost of the mortgage on an annual basis. Lenders will post advertised rates for different types of mortgages and APRs, such as for 30-year or 15-year. This way you can compare them and what each lender offers. Be prepared that the actual rate you might pay will likely be higher because it includes credit costs and points.

Appraisal: This is an estimate of the house’s value. A professional known as an “appraiser” will come to the house before you finalize the sale. This person will look at the house and tell you how much it is worth.

Certificate of Occupancy: Before you can move into your new how home, you need proof that the house is properly built and safe to live in. This certificate is that proof. It is provided to your builder by the local government.

Closing: When it’s time for you to move into your new home, you will attend a meeting called “the closing.” You, the lender, and others will be present. At this time, you will sign the official documents that make you the owner of your home. In some places, this meeting is called a settlement.

Closing Costs: There are many fees involved in finalizing a home sale. These might include an origination fee, discount points, appraisal fee, insurance costs, taxes, deed recording fees, survey fees, and possibly a title search fee for the land. Figure these costs to be between 3 to 6 percent of your total mortgage amount.

Discount Points: This is interest you might pre-pay at closing. For example, since each discount point equals 1 percent of the loan amount, if you had 3 points on a $100,000 mortgage, the total cost for discount points would be $3,000.

Down Payment: This is the amount of money you are generally required to put into your home up front to qualify for a mortgage. For example, if you bought your home for $100,000, and you put 10 percent down (or $10,000), your mortgage would be for $90,000. The percent of down payment required varies depending on the type of loan you get. Conventional loans generally require a 10 percent to 20 percent down payment while FHA and VA loans may require much less (up to 5 percent).

Earnest Money: This is money that you put up front as part of the purchase price to show that you are committed to buying this home. This binds the transaction between you and the seller.

Escrow: While you are in the process of buying your home, the escrow holder is a neutral third party who handles the paperwork for the closing. After you buy your home, the lender might also have an escrow account for you that holds money from which your property tax and insurance is paid.

Free and Clear: When a property is completely paid for (no liens against it for money owed), it is considered free and clear.

Hazard Insurance: This is insurance you buy from an insurance company to protect your investment in your home should your house catch fire, be damaged by a windstorm, as well as other situations. Hazard insurances do not cover damage from earthquakes, riots, or flood damage. Depending on where you live, you may be required to buy extra insurance if flooding or earthquakes are a concern.

Market Value: Your home’s market value is the highest price that someone would pay or the lowest price someone would sell the property. It is often different from how much the home would actually sell for at any given time.

Origination Fee: This is the fee your lender charges for the background work done to get your mortgage approved and your home ready for closing. This work often includes preparing loan documents, doing credit checks, property inspections, and any other work required. This fee is usually a percentage of the face value of the loan (the amount of the loan after the down payment is subtracted, and before interest).

Principal and Interest: This is also known as P&I. It refers to how much of your monthly mortgage payment goes to pay down the actual loan value (principal) and how much is for the interest payment (interest).

Principal, Interest, Taxes, and Insurance: This is also known as P.I.T.I. This refers to the breakdown of your monthly mortgage payment based on the principal and interest, plus money that is collected and held in escrow to pay for your taxes and insurance bills when they come due.

Points: Each point equals 1 percent of the principal amount of your mortgage.

Pre-Approval: When you are ready to buy your home, as part of the application process, an underwriter will go through your income, credit, available funds, etc. to ensure you are a good credit risk. If the underwriter feels everything is in order, he or she will approve it, which means you can go through with your mortgage. Some pre-approvals come with conditions, so do know what they are and keep them in mind.

Pre-Qualified: Before you start to build your home, you should sit down with a loan expert and discuss your financial situation. He or she can then pre-qualify you for an amount for which you should be able to get a loan approved. However, a pre-qualification is not a guarantee that you will get approved, since no one has formally gone through your information and confirmed it.

Purchase Agreement: When you are ready to buy the home, you and the seller (or builder) will complete an agreement that lists the purchase price and any other conditions either of you place on the sale.

Title: This is a document that proves that you own the property.

Title Insurance: When you buy a home, before you go through with the sale, a title search is done to see if anyone else can claim ownership of the property you wish to buy. It will also involve a search to see if there are any outstanding liens against the property that need to be paid (such as taxes, utilities, mortgages). Title insurance is a policy in which the title company assures you that they did their job to uncover any possible claims to the property before issuing a report. If some other claim comes up that wasn’t disclosed in the report, the title insurance company pays it.

Title Search: Before you buy, a title company will search the city or town records to see who has owned the property and to make sure that doesn’t have any liens (money stilled owed to banks) or other claims to ownership.

Underwriting: The job of the underwriters is to verify your information for the lender and decide if you are a good credit risk to receive a loan in this amount or a particular interest rate. They will check your credit, employment, assets, and any other information, like bank statements. They will look at your history as well.

If you know these terms, you will have a much easier time understanding and going through your home-buying process. There are many other terms, of course, but this will get you started on the road to being a knowledgeable and informed homeowner.


Follow us on instagram for a daily dose of beautiful new homes in the Rio Grande Valley! Click here: @RGVNewHomes

© 2017 RGV New Homes Guide & Across Media Marketing, LLC.

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to RGV New Homes Guide with appropriate and specific direction to the original content.

Demand a Right-Sized A/C Unit for Your Home. Bigger Is Only Better for the Contractor.

When it gets hot in Texas, it gets really hot. We have a climate in which air conditioning is required practically year round. So, when you’re in the process of buying or building a new home, it’s important to make sure your A/C unit is correctly sized and matched to the home’s specifications. Why is this important? Simply put, an A/C unit accounts for about 50% of your home’s utility bill, but more critically—it accounts for 100% of the home’s comfort. A home with an oversized unit will not only consume more electricity than needed, its occupants will be plagued by uncomfortable clammy interiors with other long-term operational problems from poor humidity control. If you want to make sure you are not a victim of the “Bigger Is Better” sales pitch, here’s what you should know.

Understanding What Determines Right-Sizing of Air Conditioning Systems

In the U.S., the Air Conditioning Contractor’s Association of America (ACCA) produced a protocol for calculating the heating and cooling loads of a home in order to determine the correct A/C system needed for a specific space. Known as a “Manual J,” this protocol takes a scientific and mathematical approach to accurately match the size of the A/C with the home’s required load calculations. A Manual J is absolutely more accurate than the rules of thumb that many contractors use, such as “1 ton of air conditioning capacity for each 600 square feet of living space.” These rules of thumb—especially bad rules of thumb—grossly oversize the A/C unit.

While a “Manual J” is required by code officials in order for a builder to get a building permit, the sad truth is that it is not their job to ensure the Manual J is correct. Even the builder may not know if the Manual J developed for his or her home is correct. Too often, everyone trusts the HVAC contractor who is the one responsible for developing the Manual J, which determines the correct size of the air conditioning unit. A/C units are sold by the ton—the bigger the unit, the more costly the system. One ton can cost about $1000, so you can see that making sure the A/C unit is properly sized can have huge payoffs—even before you learn about all the benefits you will enjoy and all the headaches you will avoid when the A/C is properly sized.

A home’s heating and cooling load is determined by its design. Many factors are considered, room-to-room, when calculating these loads using special software: square footage, type of windows, type of insulation, and climate zone are only a few examples. It is a time-consuming job and probably why most HVAC contractors use rules of thumb instead, or worse, just use the default information on their software, which mostly likely does not reflect your home’s specific characteristics. These “inaccurate defaults” result in “inaccurate outputs” and produce an inaccurate Manual J that incorrectly requires an oversized A/C unit. It may be good for the HVAC contractor, but not for you.

Why You Don’t Want an Oversized HVAC System

Believe it or not, 40% of all US contractors admit that they are likely to oversize the equipment as a result of skipping Manual J calculations. They assume that a bigger A/C system will be able to accommodate any need and therefore should work fine. In other words, they believe that bigger is better. It’s also much easier for them to guess or use rules of thumb instead of taking the time to accurately do the required Manuals J, S, T, and D.

Aside from paying too much for an oversized A/C initially, there are other operational problems to be aware of if your A/C is too big.

More Expensive: At $1000 per ton, a larger (capacity) A/C system costs more to buy. Like poor “miles per gallon” of a car with an inefficient larger engine, an over-sized A/C will get poor efficiency and your utility bills will be much higher than necessary.

Increased System Wear: To be efficient, an air conditioner should run for longer, even cycles rather than for short bursts of cool air. An oversized unit will short cycle – this means it will start up and shut down more often. The constant “on and off” operation will increase the wear and tear of your equipment, resulting in a shorter life span and expensive repairs.

Poor Circulation: A/C units that are bigger than necessary do not run long enough to create good air circulation. A common problem is that some rooms will be too cold and others will be too hot. A right-sized unit will run for a longer period of time, allowing for good air circulation that helps to maintain even room temperatures.

Improper Humidity Levels: With a right-sized air conditioning system, the longer running time actually helps to remove the humidity in your home. On the other hand, with a larger system in which air circulation is low, your home will feel sticky and clammy. Indeed, your humidity levels may be higher, so you crank the system up. This will only add to the humidity problem and increase your electricity costs, as well.

Moisture and Mold Issues: An over-sized A/C unit does a poor job of removing humidity out of the home because it cools the space quickly and shuts off before it can do so. The long-term result is a variety of moisture and mold issues throughout the home.

Ensure Your New Home Has the Right-Sized HVAC Equipment

The good news is that there is a way to be sure that your A/C unit is sized correctly to produce extended runtimes, control humidity, eliminate moisture problems, provide even temperatures, and use less energy—it’s called a BUILT TO SAVE™ certification for
new homes.

A home that receives a BUILT TO SAVE™ certificate has been inspected and tested by an independent, third-party energy rater who guarantees that the home has complied with the requirements of the program. And one of the key components of the BUILT TO SAVE™ program is that the home’s HVAC system be right-sized and properly installed.

The Manual J documents provided for homes enrolled in the BUILT TO SAVE™ program are collected in the pre-construction stage of the program and studied by an energy rater who compares the data entered in the Manual J report with data from the home’s floor plans and other data collected from on-site inspections. A home with an oversized A/C unit cannot qualify for the BUILT TO SAVE™ program. Don’t take anyone’s word that your A/C is properly sized. Ask for guaranteed proof—ask to see the BUILT TO SAVE™ certificate.


Follow us on instagram for a daily dose of beautiful new homes in the Rio Grande Valley! Click here: @RGVNewHomes

© 2017 RGV New Homes Guide & Across Media Marketing, LLC.

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to RGV New Homes Guide with appropriate and specific direction to the original content.

Small Energy Saving Tips to Save Big!

By making some basic changes around the house, you can save big bucks on your monthly bills.

1. Ask your builder for ENERGY STAR® appliances

The appliances and electronics in your home consume 20% of the electricity you use. Request only ENERGY STAR for your new home’s refrigerator, washing machine, dishwater, and other appliances. Over the lifetime of owning these appliances, you will save $900!
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2. Get cold while doing laundry

Your hot water adds 20% to your utility bill every month with a conventional hot water tank. Use cold water instead. This will not reduce the effectiveness of your cleaning routine, especially if you use detergents formulated for cold water. If you do three loads of laundry weekly, you could save between $25 and $100 every year by washing in cold water.
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3. Take shorter showers with an efficient showerhead

Most new homes today have showerheads that use about 2.5 gallons of water per minute (gpm). Have your new home builder upgrade to showerheads that consume only 1.85 gpm. Doing so could save you $25 or more every year. Save even more money by installing a shower timer to reduce your time in the shower from 12 minutes to 5 minutes. This extra step could further reduce your hot water costs by between $10 and $100, depending on how many people are in your house.
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4. Go low-temp with your water heater

Most homes don’t need steaming hot water for everyday use. Lower your water tank’s temperature from 140 degrees F to 120 degrees F without compromising your comfort or the functionality of your appliances. Doing so will reduce your hot water bill by 10% monthly.
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5. Hang laundry to dry

Most households spend about $100 a year on electricity to run a clothes dryer. You could save this money instead by hanging your clothes to dry either indoors or outdoors. You’ll also save money by protecting your clothes. The heat of a dryer wears down the fibers of your clothing over time. Hanging your clothes to air dry prevents this damage to your clothes, which will save you from replacing them over the years.

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6. Have a programmable thermostat installed

If you’re at work or school and away from your home during the day, there’s no need to keep the temperature within a perfect range. After all, your furniture doesn’t need to be cool on hot days. Turn up the thermostat by 10-15 degrees for 8 hours every day to save 10% on your monthly energy bill. This is easy to do with a programmable thermostat. Ask your builder to install one before you move in. It could save you up to $180 every year.
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7. Draw your blinds

Most homeowners spend about $1,800 every year on heating and cooling. Given our hot climate, you’ll likely pay $300 monthly for air conditioning during the peak cooling months. The sun warms your home during this time, which will increase your need to use your fans and air conditioners to stay comfortable. You can lower your need for air conditioning by drawing your window blinds. Shade your windows – especially those that receive direct sunlight – with drapes and blinds to cut the heat gain by 45% in the summer months.
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Follow us on instagram for a daily dose of beautiful new homes in the Rio Grande Valley! Click here: @RGVNewHomes


© 2017 RGV New Homes Guide & Across Media Marketing, LLC.

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to RGV New Homes Guide with appropriate and specific direction to the original content.

Windows Are Walls Too—They Just Need Different Insulation

Just because you can see through windows doesn’t mean they’re not part of your walls. In fact, because it’s much harder to insulate windows effectively, your home’s windows can have an even bigger impact on your air conditioning costs. The size of the windows in a home, the number of windows, and whether or not they face directly into the sun have a direct impact on your home’s ability to be energy efficient. Here are some basic but important energy-saving window design facts you should consider.

Install Fewer and Smaller Windows

One of the biggest features of windows is their ability to allow daylight into your home. They also let you enjoy views of children playing and nature outside. Yet, having more windows may significantly increase how much money you pay for heating or cooling costs every year. You may therefore want to consider having fewer and/or smaller windows in your new home. For instance, if you reduce the total glazing on your home from 20% to 10%, you could reduce your cooling and heating costs by up to $500 every year.

Choose North-Facing Windows

Where your windows are located in your home will also impact how much energy you use to cool your home. Windows on the west side will add the greatest heat gain and thereby the highest cooling costs. North-facing windows receive the least amount of sun, so choose to install more windows on this side of your house. Carefully planning on which sides you add windows can cut your energy costs by $90 every year.

Shade Your Windows

Regular, low-efficiency windows will allow a lot of heat into your home. You can reduce this effect by shading your windows. Options include exterior overhangs, awnings, shutters, grills, roll-down shades, canopies, and shutters. These can often be motorized and controlled remotely and/or on timers to ensure the maximum benefit during the hottest hours of the day. Planting trees and shrubs outside of your windows can also provide a beautiful way to block sunshine from reaching your windows.

Interior shading can also reduce how much you need to use your air conditioner. Consider installing heavy drapes, shades, curtains, or blinds inside your home. These strategies are especially useful for west-facing windows. Most of these options are manually operated so you will need to remember to draw your blinds and curtains during daylight hours to prevent heat gain.

As you can see, there are many shading options. Depending on which you choose, you may be able to save up to $250 every year with strategic designs for your windows.

Compare Window Frame Construction

How well your windows resist heat transfer depends in part on what materials are used to construct the frames. Consider the following choices:

Aluminum frames: These are very strong and lightweight. Aluminum is also low maintenance. However, traditional metal frames transfer heat really quickly, which is something you don’t want in our climate in the Rio Grande Valley. If you need to choose aluminum for safety reasons, make sure you select a model that has a thermal break – this is a plastic strip that is installed outside and inside the frame and sash to prevent heat transfer.

Vinyl frames: Usually made of polyvinyl chloride (PVC), vinyl frames are very easy to care for. They require no painting and won’t rot like wood. They also transfer heat less quickly than metal frames. However, if you select this option, choose a model that is filled with insulation to increase their energy efficiency.

Wood frames: This type of window frame is better at insulating against heat transfer. However, wood requires a lot more maintenance. It can expand and contract in response to changes in weather, is susceptible to pests and rotting, and will require painting.

Add Energy-Saving Glass Features

The types of glass and how the glass is treated will impact how much energy you save, too. The following is a brief list of glazing features to consider and discuss with your builder.

Double panes: At the very least, make sure all of the windows in your new home are double paned. That means they will have two panes of glass separated by an air gap. This will cut your heat gains and losses by 50% and save you a lot on cooling costs.

Gas fills: Add a layer of insulating gas between your panes of glass. This can increase the window’s energy efficiency dramatically.

Tints and low-emissivity coating: Glass can be tinted to prevent certain types of light passing through. Similarly, a low-emissivity (low-e) coating can be added to windows to reduce heat gain and loss. Both options can lower cooling costs as well because they lower the U-Factor. When well-designed, these features will not impact your view.

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Follow us on instagram for a daily dose of beautiful new homes in the Rio Grande Valley! Click here: @RGVNewHomes


© 2017 RGV New Homes Guide & Across Media Marketing, LLC.

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to RGV New Homes Guide with appropriate and specific direction to the original content.

Understanding Closing Costs in 2017

Buying a new house may be an exciting prospect, but before you sign on the dotted line, you should understand that buying a house usually costs more than the sticker price. Referred to as closing costs, there are several essential service fees you’ll need to cover to finalize the purchase of your home. Let us help you get the best deals by giving you some tips on how to stretch your closing cost dollars.

Understanding the Basics of Closing Costs

By most estimates, closing costs may add up to 3% to the final purchase price of your home. These necessary service fees are charged by a variety of people involved in the important process of finalizing the purchase of your home, including those that come directly from the mortgage lender as well as several third parties. Refer to the sidebar on the right of this page to see a brief breakdown of the basic closing costs you’re likely to see.

Keep in mind that the particular closing costs for which you will be responsible will depend on where you’re purchasing, the service provider you’ve chosen to work with, and the sales contract terms. And remember: your lender is required to provide a list of estimated closing costs before your closing date.

Generally it’s a good idea to involve a lawyer during the homebuying process in order for you to cover all of your bases, and you’ll need to pay the lawyer for their services, as well.

Stretching Your Closing Cost Dollars

There are several ways to keep your closing costs to a minimum. Follow these tips to make your money go further during the final stages of buying your new home.

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Compare offers from lenders

Before you select a mortgage lender, be sure to do your homework by asking about more than just interest rates. Many lenders provide incentives in the form of lower closing costs, which can save you more than you would shave off with a lower mortgage interest rate. Get several offers and compare them on every closing cost to get an accurate picture of which one is the most affordable.

Negotiate for third-party services

Don’t be afraid to ask for a reduction in fees from third-party service providers, such as your attorney, property surveyor, appraiser, or inspector, and so on. It doesn’t hurt to ask, and often these providers are willing to lower their rates to get your business.

Provide a larger down payment

Often, when you put down less than 20%, you’re required to pay extra mortgage insurance premiums depending on the size of your down payment. You could save big on insurance fees by putting down more than 20%.Usually calculated as 1% of the amount you’re borrowing, points are a way of buying down the interest you will pay on your mortgage. If you need to save up front on closing costs, lower the number of points you plan to purchase. Conversely, if you want to save more on interest for several years, increase the number you buy.

Opt for monthly insurance premiums

In the past, lenders required you to pay a one-year premium for mortgage interest at the time of closing plus two months towards the next year’s premiums. However, today you can opt to pay monthly instead, which can significantly lower your up-front costs.

Knowing what closing costs you have to pay and comparing offers from several companies is a great way to make your house-buying experience more affordable. And once you have closed on your new home, breathe a sigh of relief with the money you have saved–welcome home!


For more information on calculating closing costs, visit your local title companies:

San Jacinto Title Services of Texas
www.sanjacintotitle.com

Sierra Title
www.sierratitle.com


Follow us on instagram for a daily dose of beautiful new homes in the Rio Grande Valley! Click here: @RGVNewHomes

© 2017 RGV New Homes Guide & Across Media Marketing, LLC.

Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to RGV New Homes Guide with appropriate and specific direction to the original content.