Choose Hartley Homes, Custom Home Builder Kelowna and surrounding area

Clients choose Hartley Homes because they understand our experience, integrity and commitment to customer service will make their dream home a reality in Kelowna, and the Central Okanagan.
Clients choose Hartley Homes because we are constantly raising the standards and building better homes,  because we save them money, without cutting corners, and deliver the look and function exactly as promised.

At Hartley Homes we :
- build 24" wide reinforced concrete footings for a stronger foundation
- reinforce concrete walls to reduce potential cracks in walls
- use steel rebar in basement slabs to reduce cracking and heaving
- use CSA grade 4" PVC pipes to prevent the collapse of perimeter drainage systems
- use 14" floor  joists for stronger stiffer floors
- use 2 x 8 studs framed 16" OC for stronger walls maximizing the in wall insulation
- use R-28 wall insulation exceeding the building code by 30%
- Use R-50 attic insulation  exceeding the building code by 25%
- committed to exceeding customer expectations
- committed to clear communication with our clients throughout the entire building process
- eliminate frustration and stress
- make the process of building easy and rewarding
- deliver the look and function exactly as promised
- get the best value for your money
- have documented systems and controls so everyone understands the requirements
- build to meet code requirements and exceed customer expectations
- handle customer concerns before they become problems

Brian Roth
Hartley Homes & Consulting
“Quality Construction built for Life”
Phone (250) 808-1148 Fax (250) 765-0730
email: mail@hartleyhomes.ca

Understanding Home Construction Lending In Kelowna by Philippe Daigle

To build a home is the dream of many people. While it conjures up images of happiness and family life, the whole process can difficult and emotionally draining. Such a project is fraught with financial risks; the most common are delays and associated cost overrun. To minimize those risks, it is important for people to be well prepared and have a clear plan. Many people place offers on a vacant lot and approach me to arrange lending with one or two week window; which is way too short for most situations.
Financing construction is very different from getting a mortgage for an existing home. For a start, lenders typically lend up to 80% of finished appraised value without requiring CMHC insurance. Interest rates are commonly set at prime plus 2%. With construction financing, your loan may be drawn down in stages while making interest-only payments until construction is complete. Completion for homeowners means that the house is 100% complete and has its certificate of occupancy. Different lenders may have more or less the same number of ‘funding’ stages; the following is a common example:
1. Lock-up stage: foundation, framing, windows, doors, roofing, etc (approximately 40 % of funds)
2. Drywall, insulation, wiring, and plumbing ( approximately 30 % of funds)
3. Finishing: exterior and interior ( approximately 20 % of funds)
4. An additional advance may be requested to assist in purchasing the land.
5. Additional advances may be requested subject to an appraiser’s inspections to maintain sufficient cost to complete.
Lending for construction is usually planned for 6 to 9 months depending on the project and the institution. At each stage of funds being advanced, an appraisal and inspection of the property and a lien search is typically required. The goal here is to ensure that construction is following the plan as stated in the application.
Construction loans are ‘story’ loans. That means that the lender has to know the story behind the planned construction before they're willing to loan you money. To be successful an applicant must provide most lending institutions with the following:
Ø a complete set of plans
Ø specification of materials
Ø cost estimate for the proposed building
Ø a time table for completion
Ø an appraiser will examine site survey plans, construction plans, specifications and cost estimates in order to produce an appraisal on a completed construction basis
Ø a copy of all contracts relating to the construction is a must
This list is not exhaustive and will vary between lenders.
This article is meant as an overview and specifics will vary between lenders. In writing the article I searched the internet for information, and I did not find much. The reason is simple, each project is specific and each lender adapts their practice to the local environment.

For further information Ckick Here please feel free to contact Philippe Daigle at 250 801 1279.