your new home/su casa nueva

7/28/2019 Your New Home/Su Casa Nueva

1/24

NOW is the best timeto buy your new

home in El Paso!

Ahora es eltiempo para

compraruna casa nuevaen El Paso!

www.elpasobuilders.com

New Home BuyersGuide in English & Spanish

Your New Home

Su Casa Nueva

El Paso Association of Builders

Su gua completapara construir ycomprar una casanueva en El Paso


2/24


3/24

I ExEcutivE OFFicERSGreg Bowlg, PresdeTropicana HomesDel H, ve PresdeCardel Design GroupFrak Arroyos, Sereary/treasrerCisco HomesEr Loweberg, Assoaes colEmser Tile & StoneKelly Soreso, iedae Pas PresdeVision ConsultantsRay Adao, Eee ve PresdeEl Paso Association of Builders

I cOunciL/cOmmittEE cHAiRSAffordable Blders colBobby Bowling IVBld PAc El PasoRandy BowlingDeser Gree Bldg colJavier RuizGoere Affars colPat Woodsidsry ProoosKelly SorensonLad use colLinda TroncosoSal Masoud

Adas Pro Am coeeDavid BogasYog Desger AwardJohn Chaneycode coeeKelly OLearyHoe ShowSam ShallenbergerReodelorsMiguel Herreramebershp DreMike SantamariaFae coeeKathy CarilloEdao coeeFrank Spencer

I ADviSORY tO tHE BOARDJ. Crawford Kerr, Attorney, Firth, Johnson

& Martinez

I BOARD OF DiREctORSDanny Andrus, Trinity HomesJohn Arranda, Southwest Securities Bank, FSBJoe Bernal, Joe Bernal InsuranceDavid Bogas, EPT Land CommunitiesDoug Borrett, Karam Co.Sergio Cuartas, BIC HomesEdmundo Dena, Accent HomesTed Escobedo, Snappy PublishingArt Garcia, El Paso DoorJuanita Garcia, ICON Custom Home Builder,LLCDanny Gerard, Desert Agave Builders, LLCMiguel Herrera,Simply the Best Custom HomesLorraine Huit, Cardel Design GroupWalter Lujan, Dawco Home BuildersBruce Meyer, JDW InsuranceRobert Najera, Joseph HomesJose Ortiz, Foxworth-Galbraith Lumber

Kathy Parry, Hunt CommunitiesBob Paschich, Oeste HomesKathy Rose, Builders SourceRegina Sanchez, Compass BankSam Shallenberger, Western WholesaleFrank Torres, GMF HomesJavier Veloz, Zia HomesPaul Zacour, Zacour & Associates

I tAB StAtE DiREctORS ALtERnAtESDoug Borrett, Karam Co.Randy Bowling, Tropicana Homes

I nAtiOnAL DiREctORSBobby Bowling IV.Demetrio Jimenez

Your New Home/Su Casa Nuevais published annually for the El Paso Association of Builders by Snappy Publishing. All real estate advertising hsubject to the Federal Fair Housing Act, which makes it illegal to advertise any preference, limitation or discrimination based on race, color, relighandicap, familial status, or national origin, or intention to make any such preference, limitation or discrimination. Snappy Publishing assumes no sibility and shall have no liability whatsoever for errors, including without limitation, typographical errors or omissions in Your New Home/Su Casa

Publisher reserves the right to edit or refuse any advertising submitted.

2011 Snappy Publishing. All rights reserved. No part of any article or photograph contained in this magazine may be reproduced in any way without the written consent of PPublisher assumes no responsibility whatsoever for errors, including without limitation, typographical errors or omissions. Editorial or advertising content in Your New Home/S

Nuevadoes not necessarily reflect the opinions of publisher or the El Paso Association of Builders and should not be considered an endorsement. Publisher assumes no responsthe products or services advertised in this magazine. Publisher reserves the right to edit or refuse any advertising or editorial submitted.

2011 Volume

in this issue:

Why now is the time to buy a new house in El Paso

Applying for a mortgage

Mortgage Glossary

Home buying terms

En esta edicin:

Ahora es el tiempo para comprar una casa nueva en El Paso

Solicitando una hipoteca

Glosario de hipotecas

Trminos de Bienes Races

Su Casa NuevaYour New Home


4/24

by Ray Adauto

translation by

Ivan Torres

While the traditional reason to buy ahome is to start creating long term wealththere are some factors that make buying ahome in El Paso an even better decision.First and foremost is the affordabilityfactor. El Paso offers new homes from the$80s to the $million or more. While thatseems to contradict affordability when youlook closer you understand it better.Traditional El Paso homes have offeredmore for less according to home buyers,especially those coming from other partsof the country.

The median new home price in El Paso

is around $130,000 for a homeapproximately 1600 square feet. Thatmeans that many of our homes are pricedbelow $100 per square foot, somethingthat is unheard of in many othercommunities. Why is this so and whatbenefits does that offer you? First andforemost is the willingness of the homebuilder industry to provide affordablehousing. That means that your new homewill have features that make it energyefficient, comfortable and affordable.

Secondly the area has not seen the

spike of speculation that has hauntedmany other locations, meaning that mostof our homeowners actually live in them.This brings stability to the neighborhoodsand communities around them. Its notunusual to see homeowners staying intheir homes longer than the nationalaverage of 5-7 years. When ahomeowner decides to move it opens upadditional opportunities for those buyerslooking for a more establishedneighborhood or an older home. Its thisflexibility in housing that makes El Pasounique among other cities.

El Pasos standing as one of thenations safest cities also has some greatpoints. This attracts many people to livehere from areas that perhaps are achallenge to safety including peopledeciding to move here from south of theborder. Larger metropolitan areas arealso generally much more denselypopulated. El Pasos wide open spacesmeans that you have much more room tolive in, plan activities to and enjoy.

El Paso is also the home to Fort Bliss,Texas, the premiere military post in the

free world. Fort Bliss adds tens ofthousands of people to the populatioEl Paso. It also employs many of ourcitizens in the private as well as pubsector. Fort Bliss will continue to growunder the Base Realignment Act for foreseeable future. Studies indicate tEl Paso will grow to nearly 1,000,000people by 2025 or just beyond. Thosstudies also indicate that about 90,00new jobs will be created here in the ndecade. Combine those two statisticand you see that El Pasos future indlooks bright.

Buying a new home in El Paso is awise decision and one you should taadvantage of now. As the city grows require more businesses to be growmore education needed and ideas ohow to manage the larger populationThese challenges are big but the focEl Pasoans is to be ready for that. Ba new home now guarantees you theopportunity to be a part of this great world we call home at an affordable

Bienvenido!

Welcome

Affordability, flexibility add value to El Pa


5/24

Mientras que la razn ms comn paraomprar una casa sigue siendo crear un

patrimonio a largo plazo, existen algunosactores que hacen que al comprar una casan El Paso sea una decisin aun mejor. En

primer lugar est la accesibilidad en cuantoa precio. El Paso ofrece casas nuevasesde $80,000 hasta 1 milln o ms delares. Tal vez esto suene contradictorio,

pero cuando esto se examinaetenidamente, se puede comprender mejor.

Las casas tradicionales de El Paso ofrecenms por menos de acuerdo a losompradores, especialmente aquellos queienen de otras partes del pas.El precio promedio de una casa nueva en

El Paso de aproximadamente 1,600 piesuadrados es de alrededor de $130,000.

Esto significa que muchas de las casas

enen precios por debajo de los $100 porpie cuadrado, algo que no es comn enmuchas otras comunidades. Por quucede esto y cuales son los beneficios paral comprador? Principalmente se debe a laisponibilidad de la industria constructora

para proveer viviendas accesibles. Estosignifica que una casa

nueva tendr

caractersticas que la hagan ahorrar energa,y que sea cmoda y accesible. En segundolugar, el rea de El Paso no haexperimentado la especulacin que haatormentado a muchos otros lugares, lo cual

significa que la mayoria de nuestros dueosde casas realmente las habitan. Estoproporciona estabilidad a las zonasresidenciales y comunidades que lasrodean. No es extrao que los dueospermanezcan en sus casas por ms tiempoque el tiempo promedio nacional, que es de5 a 7 aos. Cuando el dueo de una casadecide mudarse, se abren oportunidadesadicionales para aquellos compradores quebuscan una zona residencial mejorestablecida o una casa seminueva. Es estaflexibilidad en viviendas lo que hace que ElPaso sea una ciudad nica entre muchas

otras ciudades.El lugar que ocupa El Paso como una de

las ciudades ms seguras del pas tambintiene varias ventajas. Esto atrae a muchaspersonas a venir a vivir aqu de reas quequizs son inseguras, incluyendo a personasque se mudan a El Paso del otro lado de lafrontera. Asimismo, las reas metropolitanasgrandes tienden a tener una poblacin msdensa. Los amplios espacios de El Paso dancomo resultado ms lugar donde ustedpuede vivir, planear actividades ydisfrutarlas.

El Paso tambin es el hogar de Fort Bliss,

Texas, uno de los principales puestosmilitares del mundo. Fort Bliss agrega milesde personas a la poblacin de El Paso.Tambin proporciona empleo a muchos de

nuestros residentes tanto en el sectorpblico como en el privado. Fort

Bliss seguir creciendobajo el Acta de

Reajuste deBases

(Base

Realignment Act) en el futuro. Algunosestudios indican que el nmero dehabitantes de El Paso aumentar aaproximadamente 1 milln para el ao 2Estos estudios tambin indican que cerc

90,000 nuevos empleos sern creados eprxima dcada. Al combinar ambasestadsticas, se puede apreciar que el fude El Paso en verdad se ve bastanteprometedor.

El comprar una casa nueva en El Pasouna decisin sabia de la cual usted debetomar ventaja ahora mismo. A medida quciudad crezca, necesitar que ms negosean creados, as como ms educacin ideas de cmo organizar la crecientepoblacin. Estos retos son grandes, peroenfoque de los Paseos debe estar listopara ello. El comprar una casa nueva ah

le garantiza a usted la oportunidad de separte de este nuevo mundo al que llamahogar a un precio accesible.

La accesibilidad y flexibilidad agreganvalor a las viviendas de El Paso


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7/24

Lista de Artculos Para Solicitud dePrstamo HipotecarioDespus de escoger su casa, necesitar asegurar los fondos para hacer la

compra. El lema de los boy-scouts, siempre listos, le ayudar con el proceso

de solicitud de un crdito hipotecario. Usted necesitar proporcionar informa-cin detallada acerca de su situacin financiera. Asegrese de llevar consigo

los siguientes documentos cuando solicite un crdito hipotecario, ya que elloagilizar el proceso.

Contrato Descripcin Legal de la Propiedad Precio

Informacin Personal Nmero de seguro social y licencia de-

conducir de todas las personas inclu-idas en la solicitud

Direcciones de domicilio de los ltimosdos aos

Acta de divorcio y acuerdo desepa-racin, si estos fueran pertinentesa susituacin

Ingresos Talones de cheque de nmina ms re-

cientes Documentacin de cualquier tipo de in-

gresos adicionales: bonos, comisiones Nombres, direcciones y nmeros tele-

fnicos de todos sus patrones de losltimos dos aos

Formularios de pago de impuestos W-

2 de los ltimos dos aos

Si usted es su propio patrn o trabajabajo,comisin, necesita copias de susdeclaraciones fiscales de los ltimos

dos aos con todas sus programa-

ciones y una declaracin actualizadade ganancias o prdidas del ao en

curso. Lo anterior deber ser avaladopor la firma de un contador.

Documentacin de pagos de pensin

alimenticia o manutencin, en caso deque dichos ingresos fueran a ser

Otros bienes races de los que ustedsea dueo

Nombres, direcciones, nmeros tele-fnicos y nmeros de cuenta de todos

las entidades de crdito hipotecario yarrendadores de los ltimos siete aos

Copias de contratos de renta y de-claraciones fiscales de todas las

propiedades de renta

Evalo de las propiedades

Lquido Activo(disponibilidad de dinero en efectivo) Nombres completos, direcciones,

nmeros telefnicos y nmeros decuenta de todas las cuentas bancarias

Copias de saldos de todas las cuentas

bancarias de los ltimos tres meses Copias de todas las cuentas por cobrar

Valor de otros bienes como: automvil,artculos del hogar y artculos de colec-

cin Valor en efectivo de plizas de seguros

de vida

Derechos adquiridos en fondos dejubi-lacin como fondos IRA

Deudas Nombres y nmeros de cuenta de

todas las tarjetas de crdito, in-cluyendo el saldo y el pago mensual

de cada una de las cuentas Nombres, direcciones, nmeros tele-

fnicos y nmeros de cuenta de todas

sus deudas a largo plazo, saldo aproxi-

mado y la cantidad que usted pagamensualmente a cada cuenta

Pagos por pensin alimenticia o manu-

tencin

Nombres, direcciones, nmeros tele-fnicos y nmeros de cuenta de crdi-

tos que hayan sido recientementesaldados, si stos fueron usados para

establecer crdito

The information in this article

is provided in English on thenext page


8/24

Whether you are buying your first

home or a move-up house, the

process of financing this important

purchase can be the most

intimidating part of the process.

Understanding financial terminology

and good preparation can take some

of the sting out of the process.

Most people look to their bank to

borrow the funds for their mortgage.

While this is a logical choice, it is

important home buyers know there

are other lenders available. Mortgage

companies, savings and loan

associations, credit unions, mortgage

brokers and commercial banks all

make home loans. Special assistance

is available for people in low- to

moderate-income levels. Many

people who never dreamed they

could own a home are pleasantly

surprised to learn they qualify for help

with down payments and credit

counseling. Three organizations who

provide this type of assistance have

toll-free numbers: Consumer Credit

Counseling Services, Housing

Counseling Clearinghouse, and

Fannie Mae.

To begin your home buying

process, you need to determine the

price range you should explore. One

of the most effective ways to

determine your price range is by pre-

qualifying. When you pre-qualify, your

financial situation is reviewed to

determine how much money you

borrow. It does not mean you are

approved for a loan, but you will

a good idea about the price range

homes you can buy. Your Realtor

financial institution can help you p

qualify.

After you choose your home, y

will need to secure the funds to m

the purchase. The boy scout mot

always be prepared, will help yo

through the loan application proc

You will be required to disclose

detailed information about your

financial situation. Having the

following documents with you wh

you apply for your mortgage will

speed up the process.

Home Mortgage Loan Tips:

How to Simplify theProcess


9/24

Contract

Legal description of the property

Price

Personal Information

Social Security number and drivers

license for all borrowers

Home addresses for the last two years

Divorce decree and separationagreement, if applicable

ncome

Most recent pay stubs

Documentation on any supplemental

income: bonuses, commissions

Names, addresses and phone numbers

of all employers for the last two years

W-2s for the last two years

If self-employed or commissioned sales,

copies of last two years tax returns with

all schedules and year-to-date profit and

loss for current year, signed by an

accountantDocumentation of alimony or child

support, if such income is to be

considered for the loan

Real Estate Owned

Names, addresses, phone numbers and

account numbers of all mortgage lenders

and landlords for the last seven years

Copies of leases and two years tax

returns for any rental property

Market value estimate

Liquid Assets

Complete names, addresses, phonenumbers and account numbers for all

bankaccounts

Copies of the last three months

statements for all bank accounts

Copies of any notes receivable

Value of other assets (auto, household

goods and collectibles)

Cash value of life insurance policies

Vested interest in retirement funds, IRAs

Liabilities

Names and account numbers for all

revolving charge cards; balance and

current monthly payment amount foreach


account numbers for all installment debt;

approximate balance and monthly

payment for each

Alimony or child support payments


account numbers of accounts recently

paid off, if used to establish credit

When you choose GECU for your home financing, youll

unlock the power of an experienced and responsive

mortgage loan staff that understands the needs of

your family.

At GECU, we can help you with:

Conventional, FHA & VA loans Competitive rates

Lower closing costs

Fast approvals

Helping you feel comfortable buying your new home is a

key part of our service to you. Call us at 774.6081, orvisit our Home Buying Center at www.gecu-ep.org today.

Loans subject to approval. Anyone living or working in El Paso County or in DoaAna County not more than 25 miles

from our 1500 North Resler office is eligible for membership at GECU your Greater El Pasos Credit Union.


10/24

MORTGAGEGlossary

Adjustable-rate loans, also kno

asvariable-rate loans, usually offlower initial interest rate than fixe

loans. The interest rate fluctuatethe life of the loan based on marconditions, but the loan agreeme

generally sets maximum and mirates. When interest rates rise,

generally so do your loan paymeand when interest ratesfall, your

monthly payments maybe lower

Annual percentage rate (APR)

thecost of credit expressed as arate. The APR includes the inter

points, broker fees, and certain o

credit charges that the borrowerrequired to pay.

Conventional loans are mortga

loans other than those insured oguaranteed by a government ag

such as the FHA (Federal HousiAdministration), the VA (Veteran

Administration), or the RuralDevelopment Services(formerly as Farmers Home Administratio

FmHA).

Escrow is the holding of moneydocuments by a neutral third par

to closing. It can also be an accoheld by the lender(or servicer) inwhich a homeowner pays mone

taxes and insurance.

Fixed-rate loans generally haverepayment terms of 15, 20, or 30

Both the interest rate and the mopayments (for principal and interstay thesame during the life of th

loan.The interest rate is the costborrowing money expressed as

percentage rate. Interest rates cchange because of market cond

Loan origination fees are feescharged by the lender for pro-ce

the loan and are often expressepercentage of the loan amount


11/24

Lock-in refers to a written agreementguaranteeing a home buyer a specific

interest rate on a home loan provided

that the loan is closed within a certainperiod of time, such as 60 or 90 days.Often the agreement also specifiesthe number of points to be paid at

closing.

A mortgage is a document signed bya borrower when a home loan ismade

that gives the lender aright to takepossession of the property if theborrower fails topay off on the loan.

Overages are the difference between

the lowest available price and anyhigher price that the homebuyer

agrees to pay for the loan.Loanofficers and brokers are often allowedto keep some or all of this difference

as extra compensation.

Points are fees paid to the lender forthe loan. One point equals 1 percent

of the loan amount. Points are usually

paid in cash at closing. In somecases, the money needed to paypoints can be borrowed, but doing sowill increase the loan amount and the

total costs.

Private mortgage insurance

(PMI)protects the lender against a

loss if a borrower defaults on the loan.It is usually required for loans in whichthe down payment is less than 20

percent of the sales price or, in arefinancing, when the amount

financed is greater than 80 percent ofthe appraised value.

Thrift institution is a general term forsavings banks and savings and loan

associations.

Transaction, settlement, or closing

costs may include application fees;

title examination, abstract of title, title

insurance, and property survey fees;fees for preparing deeds, mortgages,and settlement documents; attorneysfees; recording fees; and notary,

appraisal, and credit report fees.

Under the Real Estate Settlement

Procedures Act, the borrower

receives a good faith estimate ofclosing costs at the time of applicationor within three days of application.

The good faith estimate lists eachexpected cost either as an amount or

arrange.


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13/24


14/24

ArrasCantidad de dinero que entrega laparte compradora al vendedor comogaranta de que comprar la viviendaen un plazo determinado. Si laoperacin llega a buen trmino, lasarras son consideradas como pago lacuenta.

AvalistaPersona que interviene como garanteen un prstamo y que asume las

responsabilidades de pago en caso deque el prestatario no haga frente a ladeuda o a sus intereses.

Cdula de habitabilidadDocumento que debe recoger si lafinca elegida es la idnea para el usoque se pretende dar a la vivienda.Debe elaborarse antes de laocupacin de una vivienda de nuevaconstruccin. Es imprescindible parala obtencin de una hipoteca.

Comisin aperturaImporte que se paga al formalizar unprstamo, en contraprestacin a losgastos administrativos, informticos yde gestin que conlleva su apertura.Se paga por una sola vez y suele serun porcentaje sobre el capitalprestado.

Costos del registro de la propiedadSon los que se derivan de lainscripcin de la hipoteca en el

Registro de la Propiedad.

CuotaImporte a pagar, en el cual se englobacapital ms intereses.

Escritura pblicaEs el contrato definitivo de compra-ventaque se firma ante Notario y atribuye la

propiedad al comprador, que resulta

propietario de lo comprado.

Gastos de gestinSon los producidos por la tramitac

gestin en Notaria, Registro de laPropiedad y Administracin de

Hacienda. Son efectuados porprofesionales de la entidad que

concede la hipoteca.

Gastos de notariaComprenden los honorarios y gastdel notario.

Gastos de registroSon los gastos generados alinscribirse la hipoteca en el Registde la Propiedad. Estos gastos ser

por cuenta del prestatario. La baseimponible es la "responsabilidad

hipotecaria" y tambin se aplica untarifa porcentual establecida

legalmente sobre esta base. A estaaden los aranceles registrales

Glosario de trminos


15/24

devengados por el asiento depresentacin y las notas marginales.

Inters de demoraInters adicional que se cobra sobrelas cuotas impagadas de un prstamo.Se calcula en funcin de los das de

retraso en el pago, son pactados a

priori por la entidad financiera y elcliente.

Inters fijoEl tipo de inters nominal permaneceinvariable a lo largo de la vida del

prstamo con independencia de lasvariaciones del mercado hipotecario.

Permite asegurar que aunque varenlos tipos de inters, no cambiarn las

condiciones de su prstamo, y pagarsiempre lo mismo.

Inters variableSe fija en relacin con un ndice de

referencia, que evoluciona al alza o ala baja segn las oscilaciones del

mercado, al que se suma un margen odiferencial, establecindose unarevisin peridica de actualizacin del

ndice. En esta modalidad, el tipo deinters se revisa semestralmente, de

modo que la cuota mensual se ajusta alas tendencias del mercado. En este

caso, el plazo de su prstamo semantendr siempre fijo, variando

peridicamente las cuotas mensuales

IVAEn el caso de viviendas de primeramano. Grava la venta cuando el que

vende es un empresario. Es el 7% delvalor de la vivienda.

NotaraEl notario da fe pblica de la escritura,

es decir, certifica la operacin y podrser elegido libremente por el solicitante

de entre los que operen en la plaza

NotarioProfesional con capacidad legal paradar fe pblica de los actos en los que

interviene.

PeriodicidadEs la frecuencia con la que pagar las

cuotas del prstamo; por lo que lerecomendamos que coincida con laperiodicidad de sus ingresos.

Plazo de amortizacinEs el periodo establecido en el

prstamo para su total devolucin.Debe tener en cuenta que el plazo

ms adecuado para usted debe seraquel que le permita pagar las cuotascmodamente. Por tanto, la eleccin

del plazo de amortizacin deber

hacerla siempre en funcin de sucapacidad de reembolso.

Prstamo hipotecarioEs una operacin financiera por la cualse permite acceder a la vivienda que

usted desea pudiendo obtener unosimportes de financiacin superiores, a

unos tipos de inters bastante msreducidos que los concedidos en otro

tipo de prstamos en los que elinmueble no queda hipotecado comogaranta del pago de la operacin tal y

como ocurre en este tipo deprstamos. Se formaliza en documento

pblico y sus derechos se constituyencon la inscripcin en el Registro de la

Propiedad.

PrestatarioPersona titular de un prstamo, queasume todas las obligaciones y

adquiere todos los derechos delcontrato que firma con la entidad

financiera prestamista.

Responsabilidad hipotecariaEs la suma de todos los conceptos queson garantizados mediante la hipoteca

( el capital prestado, los interesesnormales y los intereses de demora,

costas judiciales, gastos, etc.). Sobreesta cantidad es sobre la que se

calculan los gastos de formalizacin ycancelacin de una hipoteca.

Seguro de incendios para viviendasSegn la legislacin actual, esobligatoria la contratacin de un

Seguro contra Incendios sobre lavivienda objeto del prstamo. Por ello,en el momento de obtener su crdito

hipotecario, se le facilita su Seguro deIncendios a la medida. As se

encontrar cubierto en los supuestosde: incendio, rayo, explosin,

desescombro, medidas adoptadas porla autoridad, riesgos extraordinarios ycatastrficos, etc.

Service & Quality is our

number one goal.

Expert Granite

Counter Installation

www.granitemarbleandtile.co

Showroom and

Fabrication Facility at

307 N. San Marcial,

El Paso, TX 79905,

915-351-4401


16/24


17/24

Its a great time to buy a newhome in El Paso.

The El Paso Association of Builders has been a part of the incredible growth of El Paso forover sixty five years.

During that time, the housing market has seen a lot of changes.

But never before has there been a better time to buy a new home in El Paso.

Our builders offer El Pasoans value, variety and a vested interest in our community.If you are considering buying a new home, the time is now.

www.elpasobuilders.com


18/24

Adjustable-rate mortgage (ARM) -Hipotecacon tasa de inters ajustable (ARM, siglas en

ingls)Affordable housing - Viviendas a preciosrazonables

Agreement of sale -Acuerdo de ventaAnnual percentage rate (APR) - TasaPorcentual Anual (APR, siglas en ingls)Appraisal contingency - Contingencia deavaluoAssessed value - Valor calculadoAssumable mortgage -Hipoteca asumibleAssume a mortgage - Tomar una hipotecaAverage payment -Pago promedio

Back-end ratio -Porcentaje por reembolsoanticipado

Balloon loan -Prstamo reembolsable alvencimiento

Biweekly-payment mortgage -Hipoteca conpagos quincenales

Borrower -PrestatarioBuilding code regulations -Reglamentacionesde los cdigos de construccin

Building inspection services -Servicios deinspeccin de construccin

Buy down -Reduccin de la tasa de inters porpago adicional

Buyer's agent -Agente del compradorBuying power -Poder de compra

Capital gains deferment -Aplazamiento deganancias de capital

Closing costs - Costos de cierreCommitment letter - Carta de compromisoCommunity Home Buyer's Program (CHBP) -

Programa Comunitario para Compradores deVivienda (CHBP, siglas en ingls)

Construction loan -Prstamo paraconstruccin

Contingency clause of sale - Clusula decontingencia de ventaConventional mortgage loan -Prstamo

hipotecario convencionalCounteroffer - ContraofertaCredit rating - Calificacin crediticia

Current monthly expenses - Gastos mactuales

Deed -Escritura de propiedad inmobiDefault -Incumplimiento en el pago

Disclosure -DivulgacinDiscretionary expenses - Gastos discrDown payment -Pago inicialDue date -Fecha de vencimiento

Earnings - GananciasEasement -ServidumbreEqual Credit Opportunity Act (ECOA)-Ley de Igualdad de Oportunidades de (ECOA, siglas en ingls)Equity - Capital en la propiedadEscrow companies - Compaas de de

garanta

Expenses; Fees; Costs (can be used

interchangeably) - Gastos; Honorarios(pueden utilizarse indistintamente)

Fair Credit Reporting Act -Ley de EqInformes de Crdito

Fair Housing Act -Ley de Equidad deFederal Housing Administration loan loan) -Prstamo de la Administracinde Vivienda (prstamo de FHA)

FHA Title 1 loan -Prstamo Ttulo 1 d

Government-insured loans -Prstamoasegurados por el gobiernoGraduated-payment mortgage (GPM)

Hipoteca con pago graduado (GPM, sigingls)

Gross income -Ingreso brutoGuide to Homeownership - Gua sobre

Propiedad de Vivienda

Home-buying power-Poder de comprvivienda

Home equity line -Lnea de crdito socapital en la propiedad

Home inspector-Inspector de viviendHomeowner's insurance -Seguro del

propietario

home buyingkey words

Terminoscomprar c

6440 Escondido El Paso, TX 79912

915.833.8121

www.citybankonline.com

Grow.

Manage.

Achieve.PurchaseRefinance

ConformingNon-conforming

FHAVA

Second Homes

Home EquityRefinance


19/24

Trusses and Wall PanelssPrompt Design Layouts sJob Site Measurin

sDelivery Available sRoof and Floor Trusse

Lumber and Building Materials

siLevel Trus Joist

Engineered LumbersCustomized Packages of Framing Lumber

and Building Materials

TRUSS AND WALL PANEL FACILITY

LUMBER AND BUILDING MATERIALS

$YER3Ts%L0ASOs

&AX

BUILDING MATERIALS AND MILLWORK

,OMALAND$RIVEs%L0ASOs

&AX

Millwork FacilitysInterior & Exterior Doors sAluminum Windo

sHuge Selection of Mouldings in Stock

Proud to be thechoice of El Pasos

best homebuilders

Housing expenses - Gastos de viviendaHousing providers -Proveedores de viviendas

ncome -Ingresosnitial interest rate - Tasa de inters inicialnstallment debt -Deuda de cuotansurance coverage - Cobertura de seguro (verambin cobertura)nsurance policy -Pliza de seguronterest rate - Tasa de intersnvestment property -Propiedad de inversin

Land contract - Contrato de compraventa deerrenos

Lease with purchase option -Alquiler conpcin a compra

Legal resident -Residente legalLending institution -Institucin de prstamos

ipotecarios

Lifetime cap -Lmite mximo de intersdurante la vida til de un prstamo

Limited equity cooperative - Cooperativa deatrimonio limitado

Loan-to-value ratio (LTV) -Relacin prstamovalor (LTV, siglas en ingls)

Lock-in rate-

Tasa de inters asegurada

Low- and moderate-income home buyers -Compradores de vivienda de ingresos bajos ymoderados

Maintenance costs - Costos de mantenimientoMarket price -Precio de mercadoMaximum mortgage amount -Monto mximode hipoteca

Minority neighborhoods - Vecindarios deersonas pertenecientes a las minoras

Monthly mortgage payment -Pago mensualde una hipoteca

Mortgage financing -Financiacin

ipotecariaMortgage loan application -Solicitud de un

rstamo hipotecarioMortgage loan; Mortgage; Loan -Prstamo

ipotecario; Hipoteca; Prstamo

Mortgage note -Pagar hipotecarioMortgage term -Plazo de una hipoteca

Negotiation -NegociacinNeighborhood - ColoniaNonprofit organizations - Organizaciones sinines de lucro

Notice of default -Aviso de incumplimienton el pago

Offer- Oferta, PropuestaOngoing costs - Costos continuosOwner-PropietarioOwner-occupied -Propiedad ocupada por el

ropietarioOwner financing -Financiacin del

ropietario

Payment cap - Tope de pago de hipotecaPayment schedule -Plan de pagosPrepayment; Prepaid -Pago anticipado;Pagado por anticipado

Prequalification - Calificacin previaPrice range -Nivel de preciosPrimary mortgage market -Mercado

hipotecario principal

Principal and interest (P&I) - Capital einters (P&I, siglas en ingls)Principal residence -Residencia principalProcessing time -Duracin del proceso detrmite

Property taxes -Impuestos a la propiedadPublic assistance funds -Fondos de

Asistencia Pblica

Purchase price -Precio de compra

Qualifying ratios -Porcentajes de calificacinQuote - Cotizar

Real estate attorney -Abogado de bienesraces

Real estate taxes -Impuestos a los bienesraces

Refinance -RefinanciarRepayment period -Perodo de pagoReplacement value - Valor de reemplazoRider- Clusula adicional

Sales contract - Contrato de ventaSecond mortgage -Hipoteca secundariaSecurities - Ttulos; ValoresSettlement - CierreShort-term -A corto plazoSingle-family home (1 - 4 units) - Viviendaunifamiliar (1 - 4 unidades)Stable housing costs - Gastos estables de

viviendaSurvey of property -Estudio de la propiedad

Tax -ImpuestosTenancy -Arrendamiento

Title-

TtuloTitle search -Bsqueda de ttulos de

propiedad

Transfer- TransferenciaTruth-In-Lending Statement -Declaracin de

veracidad en un prstamoTwo Step mortgage -Hipoteca en Dos Pasos

Underwriting ratios -Porcentajes decalificacin usados al evaluar una solicitud de

prstamo

Underwriting; Mortgage underwriting -Proceso de evaluacin de la solicitud de un

prstamo hipotecario; Avales hipotecariosUpfront costs - Costos inicialesUpkeep expenses - Gastos de mantenimientode la propiedad

Valuation - ValuacionVeterans Administration loan (VA loan) -Administracin de Temas Relacionados con

Veteranos (prstamo VA)

W-2 Forms -Formularios W-2Waiver-ExencinWarranty - Garanta


20/24

Beneficios impositivos. Si ustedconstruye, puede deducir los interesesy los puntos sobre los prstamos parael terreno y la construccin, as como

cualquier impuesto predial que seapagadero.

Financiamiento Flexible. Algunosbancos ofrecen opciones definanciamiento que le permiten incluirsu prstamo de construccin a una

hipoteca tradicional, potencialmenteeliminando la necesidad de un cierre

aparte y sus costos asociados.

Eficiencia energtica. Una de lasmayores ventajas de construir una casaes que usted tiene control sobre el uso

de las prcticas y los productos quepueden ahorrarle cientos de dlares en

servicios pblicos cada ao.

Escogiendo a sus vecinos. Unvecindario nuevo no ha tenido tiempo

de convertirse en ampliamente diverso.

As que si usted desea un vecincon bastantes nios, usted puedconstruir en un vecindario que sen nios.

Ms espacio de estar y de clconstruir le da la opcin de comlote ms pequeo y construir un

apegada a los lmites. As puedemaximizar su espacio para esta

Seguridad. Las casas nuevasgeneral son ms seguras, ya qu

alarmas de humo, aspersoresresidenciales contra incendios, a

de monxido de carbono, y ventescape de fuego.

Amenidades. Los nuevos vecfrecuentemente ofrecen amenid

que los vecindarios ms antiguopodran no tener, como piscinas

caminos para bicicletas, clubes de picnic.

Beneficios de Comprar Viviend

Las Ventajas de ConstruirCuando usted construye una casa nueva, usted no necesita ce

cuanto al color de la pared o su seleccin de piso usted oexactamente lo que quiere. He aqu algunos de los benadicionales de construir:


21/24

El Paso:

820 Sunland Park Drive

(915) 231-5836

Let us ORCHESTRATyour dream.

For the perfect products

for your kitchen or bath, stop by

a Ferguson showroom. Its where

youll find the largest range of

quality brandsand trained

consultants to

help orchestrate

your dream.

FERGUSON.COM

1. Everything is new. When youdecide to build a home you know forsure that everything, inside and out, is

going to be brand new. This is veryimportant to many people especiallythose who worry about being

scammed. Sure, your builder maymake a mistake but in the long run you

have a much better chance of getting ahome that is in tip-top shape.

2. You choose the design. What doyou want your home to look like?

When you build you can answer thisquestion along with the help of your

builder. No matter what look you aregoing for, if you have enough money

you can get it. Choosing the design ofyour home is one of the biggestbenefits of building.

3. Choose the features, inside andout. The design is one thing, but youalso get to choose the features that go

into making your home special. Thisincludes everything from the exteriormaterial to the flooring to the paint

colors and much more. If you want aparticular feature you can get it, as

long as you communicate with thebuilder.

4. You choose the lot. There is moreto building a home than the actualstructure. When you build you also get

to choose the lot. This allows you toget the best location, the best land foryou and your family, etc. It may be

harder today to find the perfect lot, butif you keep an open mind you will

definitely find something that you arehappy with.

5. You are the first one in. Thismeans that you can take proper care

of your home from the word go. Tomany, it is very important that they are

the only one to have ever lived in thehome. The only way to get this is to

have your home built from the groundup to your exact specifications. If youwant to be the first one in, build your

home and then care for it the best wayyou know how.

These five benefits of building should

be taken into consideration whenmaking a final housing decision.

There are many benefits of building a new home. If you are trying todecide between building and buying, you need to list out the pros and

cons of both. Once you realize that building a home is beneficial inmany ways, there is a good chance that you will begin to consider thisas you move forward. Here are five benefits that you must take intoconsideration:


22/24

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23/24

$XXX

$XXXX

1345 Geronimo, El Paso, TX 79925 915-778-

www.westernwholesaleinc.comWestern Wholesale Supply

Settingthe

standardfo

r

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ervice

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24/24

Building Dreamsfor over

50 years

TropicanaHOMES

2003 Texas

Builder of the Year

2004 Texas

Builder Industry Leader

2005 El Paso

Builder of the Year

Visit our website for

home floorplans

communities,

financing information

and much more

2006 Texas Star

Design Award

2009 Texas Association of Builders

Developer of the Year

Tropicana Homes is the only builde

in town that has been in business

since 1950, and we're the only

builder in town to be named

"Builder of the Year" three times.

Our Commitment to excellence, at-tention to detail, and pride in cus-

tomer satisfaction are unparalleled i

the industry.

Tropicana's strategy is not to be the

cheapest, or even the biggest, but in

stead the BEST! If you want the bes

in your new home, make Tropicana

your choice!

915-821-3550

www tropicanahomes com4655 COHEN EL PASO, TEXAS 79924

your new home/su casa nueva

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