Designing a home can actually be quite a difficult and technical thing, there are always certain things that people don't feel comfortable doing by themselves and so would always want to leave in the capable hands of a professional. Most people do not bother designing their home renovation project, instead they will get a professional to help them out.

Lots of people simply don't realize that they could do all of this planning by themselves and fairly easily too, you can do this using computer software. This doesn't only help with planning but will also help you understand certain aspects of the interior design process.

There are many different types of home design software which is available, you do not actually need to choose the most advanced piece of software. You should choose carefully depending on what you want and expect from interior design software.

Walls

The best lesson that you will learn from any home design software is about walls. This software should show you how you need to place walls so that things don't just fall down. It's very important to understand load bearing walls and the dimensions of the walls. These things may all seem very easy, however they are very important things to know. You not only use home design software to learn how to build a home, but also to see how it will look when it's completed down to the country curtains covering the windows.

It might not be possible to create a wall at a particular angle for a number of reasons. This design software will help you to understand the reasons behind this and why it's just not possible. You might also discover that some seemingly simple elements of design are extremely complex, home design software can make it much easier for you to know these things. This software can also give you a better understanding of how different elements of home design work together.

Studying Things

A house needs to have protection to make sure that the rain and elements do not damage your house. To understand this protection you need to know about water tables, and how they affect the building. You will be able to learn plenty of information about water tables using this home design software. Few people are able to understand how they should design the outside of their homes to prevent water getting inside. It's very important to thoroughly understand how to weatherproof your home

Building a home is quite complicated, there's a lot that you need to learn about. Using design software is a fantastic way to learn about this complicated project. You will no doubt be surprised just how much you can learn from this valuable piece of software.

Home design software can make a complicated task much simpler and more enjoyable. Spend time choosing the right piece of software and you won't go far wrong.

The essayist Ken Morris is particularly passionate about news associated to country ruffled curtains. His observations on country curtains are published on his webpage as well as various other online sites.

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1. What is a good construction loan?
A typical construction loan nowadays is a construction to permanent loan that may or may not allow you to lock-in todays low interest rates until the home is completed. If you choose a loan that does not allow you to lock in upfront, the interest rate may end up higher along with your monthly payment.

2. Should I use A Broker?
The most important thing when searching for a good construction loan is to find an experienced construction loan specialist that knows which banks are the best. A broker is a representative for hundreds of banks. Although the broker serves as middle-man, his or her services will not cost you anything extra. That's because brokers get loans at wholesale rates, and pass them along to their clients at retail prices, just like any other business.

* Wholesale and Retail - The difference between wholesale and retail is how brokers make money. Therefore, you get the same rate from a broker as if you went directly to the lender yourself.

* In Fact, because or their volume, many brokers are able to offer their clients better deals than you can get by talking to the banks on you own.

* With an experienced construction loan broker you can shop dozens of the most competitive banks nationwide, work with wholesale pricing and can negotiate on rates and pricing. Also by submitting multiple loans at the same time you will not lose extra points on your FICO score.

3. When Should you lock in your construction loan before you start building, or let the interest rate float?
If the rates are heading upward, lock. If the rates are stable, relax. If the rates are headed downward, float. Right now interest rates are at an all time low and can only go up. Lock into the best interest rate with the ability to float downward.

Inexperienced loan officers will offer their customers an enticing low adjustable rate during construction without an upfront lock-in and the customer may end up having to lock into higher interest rates when the home is completed. Or the customer is sold on a higher rate during construction with a float down option after the home is built. Again, the rate could be much higher when the home is completed. Meanwhile the loan officer has been paid and has moved on to the next loan. The only time you want this type of loan is if it's the only loan you qualify for.

Most loan officers do not explain this to their customers until it's too late (Closing). Always ask. Is the construction loan rate locked upfront or floating during the construction loan period? Then ask, is the rate during the construction loan the same rate when the loan converts into the mortgage period.

How do I qualify for a construction to perm loan, and what are the procedures?
The first thing your loan officer wants to see is your completed loan application. The loan application called the (1003) will tell a story of your financial picture.
The completed loan application will tell the loan officer many things including,
1. What type of loan you want.
2. How much money you need.
3. Your social security number.
4. Your current employers.
5. A list of all you assets (money) and liabilities (bills).
6. How much money you make.
7. How much real estate you own.

Once the loan officer has your loan application in hand they can determine whether you can qualify for a loan. One of the first items pulled is your credit report. The credit report is going to tell 3 main important things.

* Show your current credit score. The credit score can range from 500 to 800.

* Show a complete list of all your monthly liabilities (bills).

* Show all past credit problems including bankruptcies, foreclosures and late payments.

With this information the loan officer will do an analysis to determine if you can qualify for the loan amount that you're looking for. This analysis determines a ratio called the (income to debt ratio) and depending on the banks underwriting guidelines this ratio will usually range from 36% to 45%. The income to debt ratio is the percentage of monthly debt payments (including your new mortgage payment, taxes and insurance). This ratio should not exceed 36% to 45% of your monthly income. Some banks will allow you to exceed this ratio if you have an excellent credit history and excellent credit score. The current and the most popular method of qualifying for a loan today is the stated income loan. Banks are currently changing underwriting guidelines because of the amount of bad stated loans they are foreclosing on.

Stated income allows you to qualify without verifying your income on your tax returns, W 2's or pay stubs. The only thing the bank verifies when applying for a stated income loan is your credit score, liquid assets and that you're employed.

4. "Bait and Switch" Don't be taken by one of the oldest tricks in the book
The mortgage lending business is notorious for baiting and switching. Baiting and Switching is when a loan officer or advertisement offers you one thing and then tries to sells you something else.
Typical signs of baiting and switching are obvious, some basic examples are:

* Over the phone, you are offered a much lower rate than any other quote and once you've sent in your application the rate you were quoted has all of a sudden vanished.

* You are offered a construction loan with no points and no loan fee's. What you are not told is that you are paying for it with a higher interest rate and the costs are built into the loan.

* You are told that you will not have any payments while you're building. What you're not told is that all construction loans have this option and it's called "interest reserves" and the payments are added to the loan amount.

Remember three important facts and you will always be in good shape.
1. If it sounds too good to be true there's usually a reason.
2. Always get your quote in writing, (ask for a good faith estimate).
3. If you are satisfied with the rate and construction loan program that you are quoted, ask to lock it in upfront.
On the flipside, it is very important to realize that most loan products typically go hand in hand with banking guidelines. These guidelines are provided to loan officers to coincide with the customer's qualifications.

For example, if you have a very high (FICO) credit score with land free and clear, you have more loan options than the person with a very low (FICO) score and no land equity.

5. Banks really don't want you to know this!
All banks have access to the same rates and the only reason everyone ends up with a different rate is directly related to how much your loan officer and bank is going to profit from you.
You should probably read that one again.

Your loan officer gets paid like all sales people either by:

* Salary plus commission

* Commission only

It doesn't matter if you walk directly into a bank or work with a broker, basically everyone gets paid the same. If you walk directly into a bank the loan officer most likely gets a basic salary and a percentage of the loan origination fee (points and yield spread premiums). If you work with a broker the broker usually works on a straight commission (points and yield spread premiums). Becoming a broker allows the loan officer the ability to offer their customers the best loans with the most options.
It always amazes me when I see TV commercials or hear radio commercials advertising $395, zero closing costs. I always wonder if people understand how they can do that.
Ok, here is how it is done.

The inside secret is that in exchange for these low or zero closing costs the lenders will make their profits and cover the costs of the loan by charging you a higher interest rate.
This higher interest rate pays what they call in our industry a (YSP) yield spread premium.

By charging you a higher interest rate over the life of the loan the bank can easily afford the commercials, commissions, payroll, and cover the costs of the loan while still making a profit. Also the service is usually very poor and impersonal.

So the next time you see advertising with no closing costs you will know exactly how they are doing it.

So please remember that there is no such thing as a free lunch in any business. Business wouldn't be business if there were no profits. The most important thing is that you want the best loan available at a fair price with an experienced loan officer.

6. What are interest reserves and contingency funds doing in your closing costs?
The two things most customers do not factor into the cost of the building their new home are interest reserves and contingency funds.

Interest reserves are added to your loan amount to make the monthly payment on your loan. Yes, you read that correctly, you will not have to make a monthly construction loan payment while your home is being built. The payments are made from this interest reserve account and no, it's not free. This reserve is added to your construction loan amount. Interest reserves were designed for the benefit of the customer. Most people building a new home are either paying rent or have an existing mortgage payment while their home is being built.

The last thing a customer needs is another monthly payment while building. So, banks created the interest reserve account by adding up the estimated interest payments over a 12 month period and add this to the loan amount.

If you do not want interest reserves added to your construction loan amount you can ask to make your own monthly construction loan payment. Contingency funds are added to the loan amount just in case you need more money to build your new home.

With all good intentions construction loans tend to have cost over runs. The bank adds 5% to 10% of the cost breakdown and adds this amount to the loan amount just in case you have cost over runs or need better appliances. If you don't need or use this extra contingency fund then it will not be added to your mortgage upon completion of your new home.

So when you apply for a construction loan ask your loan officer to provide you a copy of the estimated construction loan budget. The budget is created from your costs and includes every cost within the loan including land balances, closing costs, interest reserves, contingency and bank fees.

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"Rogue builders" although in the minority definitely give the construction industry a bad name and hardly a week goes by without there being yet another TV program about the so called "Builders from Hell". With the help of hidden cameras these "Rogue Builders" are exposed in front of millions of viewers when they blatantly try to cheat customers out of their hard earned cash.

So how can you protect yourself from these unsavory characters who unscrupulously rip off unsuspecting members of the public? The following are some helpful suggestions to consider before hiring a builder.

1. Always ask for references and details of previous jobs. Go to see these jobs wherever possible. A good builder will be only too pleased to show you evidence of his expertise.
2. Be wary if they offer 'cheap deals' for "cash-in hand" jobs or suggest you can avoid paying VAT for cash.
3. If they do not want to commit themselves to a written contract they should be avoided like the plague.
4. If they say they can start immediately be wary, as a good builder is usually busy.
5. If they give you a surprisingly low quote you should treat this with suspicion.
6. If they seem reluctant to look at plans or to discuss the details this should also set off alarm bells.
7. If they can only be reached by mobile phone and are reluctant to divulge where they live then this should be seen as a red flag.
8. If they try to baffle you with complicated explanations when asked seemingly simple questions they may be graduates of the "If you can't convince em confuse em" school of builders and you know that it may not be in your best interests to employ them.
9. If they say they are a member of a trade association, make sure to check it out as anybody can say they are a member when in fact they are not.
10. Get at least three written quotations from various builders and be very specific about what you want done.Leave very little room for misunderstanding and this will pay dividends further down the line.
11. Now is the time to clarify everything and make sure that no gray areas exist especially regarding payments and when they should be made.
12. If any problems arise during the building work sort it out with your builder straight away and make sure he fully understands your instructions.

If the above guidelines are adhered to then there is no reason why the build should not be painless and trouble free. If you need to hire a reliable builder go to http://www.thelondonbuilder.co.uk

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