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The Log Connection Newsletter
CONTENTS May 1, 2011
News: Log Home Living Best Homes of 2011 Home of the Month: the Cascade Construction Loan vs Mortgage Loan Free Desktop Calendar of the month
Our Home Featured in Log Home Living's Best Homes of 2011

Log Home Living magazine has just published a special issue featuring their choices for best homes of 2011. We are pleased to brag that one of those chosen is a home we delivered to northern California.
The article features gorgeous full page photographs taken by the noted log home photographer, Roger Wade.
"This weekend set in the tranquil forestland of norther California's Sierra Mountains... A wide catwalk connects the two upstairs wings and provides the perfect vantage point to enjoy the great room or the view of the river and woods..."
For more information, see The Log Connection in Publications on our web site.
Log Home Living Best Homes of 2011 Cover
Home of the Month: the Cascade

Our home of the month (below) is one of our increasingly popular models, a version of which was recently delivered to a site in west Texas. To see photos of both the building of the log shell in our log yard, plus pictures of the framing progress on site, see the Current Project page on our web site.
West Texas house...based on the Cascade
Home Plan of the Month: the Cascade, 2074 sq. ft. This striking, modern log post and beam home features a stunning vaulted main living area with a cozy sitting nook, plus five bedrooms including an upstairs master suite with its own balcony.....Special May pricing: $79,300.  Click here for details...
Getting a Construction Loan Vs A Mortgage - Learn the Differences

Unless you plan to pay cash for your home building project, you will need to obtain financing for the construction and a mortgage for the outstanding balance when it's finished. While you may have qualified for a mortgage loan before, getting a construction loan for your home building project can be a little challenging.
Although it's certainly possible to get a construction loan as an owner-builder, lenders may shy away from you at first, thinking that you aren't qualified to handle such an undertaking. Consequently, it's important to be very prepared and to show yourself in a capable, competent light when presenting your case to the lender. For example, don't say, "I've never really done this before, but I'm willing to give it a stab." Instead, be positive, prepared and professional. Never lie, but anticipate questions and concerns and have answers ready.
There are several types of construction loans to choose from, but one of the most popular for people building their own home is a construction loan that converts to a permanent loan once the home is complete. Although there are no standard specifications for this type loan, as a guideline, most only require that you pay closing costs once. That saves some money and makes the process easier. You don't have to go through the qualification process twice. The downside is that it is next to impossible to lock-in a permanent mortgage rate, since you won't be closing the loan for six months to one year.
No matter what type construction loan you choose, you will likely be required to pay monthly interest on the construction loan amount during the construction phase. The amount you owe each month will depend on the amount you have "drawn" out of the loan, not the overall amount that you are allowed to borrow. If you are approved for a construction loan of $100,000 but you have only drawn $50,000 then your interest payment will based on $50,000. Typically construction loans are standard interest (not amortized) and are one or two percent over the prime rate, or whatever you have negotiated with your lender.
Qualifying for a construction goes beyond the income and credit qualification requirements for a standard mortgage loan. Bankers or lenders will want to know how you plan to tackle your project and that you are capable of building a home yourself. A thorough presentation to the bank will be in order. The following is an outline of what you will need to apply for a construction loan:  
  • all the same financial information you would provide to get a standard mortgage loan (financial statements, income verification, credit report, etc.)
  • a set of your plans (they may ask for several copies)
  • detailed specifications (the materials and finishes you plan to use)
  • an estimate of the cost
  • an appraisal (ordered by the lending institution. The appraiser will use the plans, specifications and lot value to determine the amount)
  • your lot information (whether you own it, etc.)
  • contractor bids (not necessarily required, but might be if this is your first project)
You might also consider providing any other documentation you can think of that will help indicate your ability and preparedness to complete your project. The bank is essentially becomes a silent partner in your project and will be concerned about the home being properly built. Demonstrating your ability to handle the project is key here.

Bill Edwards has built more than 200 custom homes over the last 30 years and has also helped many people build or remodel their own homes using his tested methods. He currently heads up American Home Counsel, a consortium of professionals in the home building, real estate, development, financing, and education professions. Their goal is to help educate people about home building, home remodeling, and home buying and selling. To learn more about home building financing, please visit:
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Monthly Calendar
Every month we will be bringing you a new desktop background featuring one of our log homes. But not just any desktop...this one is also a monthly calendar! Click for Details... This Month: Your May 2011 calendar featuring the Cottonwood.
Picture of desktop monitor. Click for Details... Get your free desktop.
PLUS!...Help us pick next month's calendar home.
Vote for your favorite design!
Social Networking
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On Facebook you will find our latest announcements and photos, plus special offers only available to Facebook viewers
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We have put many of our finest videos on Youtube-- walk-through tours of our home designs, plus how log homes are built
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Please feel free to contact our office at any time with any questions or comments. You can reach us toll-free at the phone number below, or you can reach us directly by email here. Thank you and have a great month!
Stephen Hancock
President, The Log Connection
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Thank you for visiting the The Log Connection website The Log Connection is a leading producer of quality hand crafted log homes, log cabins, custom log homes, and post and beam style log homes.
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Plus, we plan to offer frequent special price offers, such as discounts on a particular log shell package ordered during that month. Also, you can request to be notified of any special events such as new log homes being set up in your particular area.
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