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PLANNING FOR YOUR DREAM HOME

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PLANNING FOR YOUR DREAM HOME Powered By Docstoc
					             Planning for your
             dream home?
              ATB Financial offers flexible land financing to fit your needs.
              AsaspecialpromotionofferedbyATBFinancial’sKillarneybranchinpartnershipwithRobertEskiwofRE/MAXReal
              Estate,youmayfinanceupto80%oftherawlandforyourlotwhileyoumakeplanstobuildyournewhome.*
                  •   Selectafixedorvariableinterestrate
                  •   C
                         hoosefromawiderangeoftermsandamortizationlengths(upto25yearsamortization)
                  •   Repaytheloaninpartorinfullwithoutpenalties
                  •   80%loantovaluefinancing
                  •   Interest-onlyrepaymentforthefirsttwoyears.

              Take Advantage of a Pre-Approved Mortgage
              TalktoATBFinancialfirst,beforeyoubegindesigningyournewhome.We’llgiveyoupeaceofmindand
              immediatebuyingpowerwiththeknowledgeupfrontofwhatyoucanafford.
              Plus,we’llguaranteeyourinterestrateforupto12monthswhileyourhomeis
              beingbuilt.Andifinterestrateshavedecreasedatthetimeofthefirst
              drawduringconstruction,youwillreceivethelowerrate.




                  Advicewheneverandwhereveryouwant.
                  Forfreeexpertadvicethatcomestoyou,
                  contactyourATBmobilemortgagespecialist:

                  Denise Wareham
                  MobileMortgageSpecialist
                  Ph:780-717-4042
                  Fax:780-410-1675
                  dwareham@atb.com

                  Cindy Crewe
                  BranchManager
                  EdmontonKillarneyBranch
                  Ph:780-422-6804
                  Fax:780-473-0117
                  ccrewe@atb.com




 O
* napprovedcredit.Someconditionsapply.Uptoamaximumof80%subjecttoanyprioroutstandingmortgageorotherencumbrances.Seebranchfordetails.®RegisteredtrademarkofAlbertaTreasuryBranches.
                           Qualified Builder                              Self-Builder
                           Having your new home built by a                If you have good knowledge of the home
                           qualified new home builder provides            building process you can act as your own
                           peace of mind by acquiring the expertise       general contractor to oversee and build your
                           of the builder at a fixed contract price.      new home. Arranging and overseeing the
                           Some builders offer added peace of mind        construction of your new home does require
                           even after your home is built through a        expertise and a great deal of time. However,
                           new home warranty plan.                        there can be pride achieved through more
                                                                          direct involvement.


Step 1                     • Signed and accepted copy of building
                             contract
                                                                          • Copy of land contract if land is being
                                                                            purchased or copy of land title if owned
What’s needed?
                           • Builders construction specifications, or     • Completed Form 3570: House Building
We can help you
                             completed Form 3570: House Building            Outline Specifications
obtain these items.
                             Outline Specifications                       • One complete set of house plans and
                           • One complete set of house plans and            working drawings (blueprint)
                             working drawings (blueprint)                 • Site plan showing legal description,
                           • Site plan showing legal description,           proportionate dimensions of property
                             proportionate dimensions of property           in detail, proposed location of house on
                             in detail, proposed location of house on       property and other improvements
                             property and other improvements              • Completed Form 3580: Cost Projection for
                           • Directional map to property                    New Home Construction
                                                                          • Directional map to property


Step 2                     An appraisal of new home to be
                           constructed will be obtained.
                                                                          An appraisal of new home to be
                                                                          constructed will be obtained (fee
Market Value               Appraisal may not be required if the           may apply). A Market Value Appraisal
The market value of the    builder is a member of a recognized            may also be required.
new home to be built       warranty plan (fee may apply).
must be established.


Step 3                                                 Build Your New Dream Home!



                                                                        Pre-construction (if necessary)
                                                                        Aportionofthemortgagemaybeadvanced
                                                                        priortocommencementofconstructionto
     As your home is built                                              payaportionofthelandprice.
     in stages, your mortgage
     is advanced in stages                                              1st Progress Draw
                                                                    1      B
                                                                        •  asementreadyforbackfill
     Whentheconstructionofyourhome                                   1
                                                                        •  6%ofapproredmortgageadvanced
     hasprogressedtoanappropriate
                                                                        2nd Progress Draw
     stage,aportionofyourmortgage
     maybeadvancedtopayforthework
                                                                   2       I
                                                                        •  nteriorreadyfordrywall
                                                                           3
                                                                        •  3%ofapprovedmortgageadvanced
     completed(subjecttoaliensearch
     ofthetitle).Aninspectionmaybe                               3rd Progress Draw
     requiredpriortoanadvanceofthe                          3       D
                                                                        •  rywallinstalledandtaped
     mortgagetoensuretheworkhas                                      2
                                                                        •  6%ofapprovedmortgageadvanced
     beencompleted(feemayapply).
                                                                        4th Progress Draw
                                                                   4       H
                                                                        •  ousecompleted
                                                                           2
                                                                        •  5%ofapprovedmortgageadvanced

				
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posted:7/11/2011
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