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Maricopa, Ariz. – May 2019 – Lennar is excited to bring new homes to the City of Maricopa with a new home community, Alterra, that is slated to Grand Open in late June. This charming neighborhood will present a diverse collection of new home designs that will fit the lifestyles of today’s modern families, including one Next Gen® design for multigenerational living. Interested home shoppers are encouraged to join the interest list at Lennar.com/Alterra and view floorplans.
“Residents will love their life at Alterra, with an array of family-oriented community amenities, smart home designs for better living and a prime location near exciting recreation, such as the popular Copper Sky Recreation Complex,” said Alan Jones, Division President for Lennar Phoenix. “With easy access to major cities in the Phoenix Metro area, including Phoenix, Chandler and Tempe, Maricopa offers a vibrant setting to put down roots and grow.”
Home shoppers can choose from a collection of five single-story designs ranging from approximately 1,392 to 1,949 square feet. New homes in Maricopa by Lennar include three to five bedrooms, two to three bathrooms and two-bay garages. Check every box on your new home checklist with designs showcasing open living areas, gourmet kitchens, outdoor living areas, stylish owner’s suites, spacious secondary bedroom for the kids and flexible spaces per plan.
And with the surge in multigenerational living, extended families will appreciate Lennar’s innovative Next Gen® – The Home Within A Home® design, which allows multiple generations to live comfortably under one roof. The layout works by providing a private suite connected to the home, complete with its own living area including living area with kitchenette, bedroom, bathroom and separate entrance. It’s an ideal living space for elderly parents or long-term guests, such as a returning college student.
Each home also enjoys tremendous value from Lennar’s signature Everything’s Included® program. The program has facilitated the homebuying process by including the market’s most desirable features and upgrades as standard in every new home. Enjoy black appliances, designer-selected cabinetry, home automation and Wi-Fi CERTIFIED™ Home Designs for a more connected living experience and much more – all at no extra cost.
This new home community in Maricopa is a great place to raise a family. The community boasts tot lots, ramadas, BBQ grills, multiuse fields and landscaped open space. Residents will be able to walk over to the Copper Sky Recreation Complex boasting multiple parks, a skate plaza, recreation center and much more. Plus, you’re just a short drive Phoenix, Chandler and Tempe.
Lennar will host a Grand Opening event for Alterra in late June 2019. Prospective home shoppers can visit www.lennar.com/phoenix to register for the interest list and receive up-to-date information.
About Lennar
Lennar Corporation, founded in 1954, is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar’s Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of Lennar’s homes and others. Lennar’s Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Lennar’s Multifamily segment is a nationwide developer of high-quality multifamily rental properties. Previous press releases and further information about Lennar may be obtained at the “Investor Relations” section of Lennar’s website, www.lennar.com.
Spring is a time when interior designers, paint manufacturers and furniture retailers are showcasing the latest and greatest ideas and trends in interior design. There are some big ideas and some small ideas in interior design this year, some are trendy in nature and some will stand the test of time. The secret to timeliness decorating is committing to a core style which informs key pieces of the room (such as flooring, windows, paint and lighting), secondly infusing your personal life story into the space and then overlaying some fun and trendy features (that can be easily updated).
One of the most popular styles is contemporary, this style reflects us those ideas and trends that are important to “us” “now”. Our current contemporary trends show sensitivity toward environmentally friendly materials with a nod to urban tones and minimalization. In contrast to a contemporary room, a traditional room features elements that have been rooted in historical design but are none the less influenced by current styles.
A fun way to keep your décor exciting without breaking the bank is to assign one seasonal wall that can be updated with a new piece of art and to select one table top that gets a new piece of glass or photo frame arrangement. When you do your annual refresh, add pillows or other fabric items that support your new pieces and are in flow with your core design plan.
Enjoy the journey of making your house a home and have fun telling your story through interior design. Check out Lennar’s Open Door Blog for more ideas on decorating your new home.
While navigating the purchase of your new home, you’re going to come across a lot of terms you may not be familiar with. We want to simplify the homebuying process with a collection of home financing terms to help you feel confident.
A
Adjustable-Rate Mortgage (ARM): Home mortgage that has interest rates that change periodically based on market factors.
Amortization: Payment plan to repay mortgage loan by making regular payments or installments to cover principal or interest.
Amortization Term: Amount of time, expressed in months, required to completely pay off the mortgage loan. Example: A 30-year fixed-rate mortgage has an amortization term of 360 months.
Annual Percentage Rate (APR): Yearly interest rate paid on a loan. Federal law requires this rate to be disclosed as part of the truth-in-lending documents.
Appraisal: Estimated true (fair market) value of the property by a professional appraiser.
Assessment: Tax levied on a property or a value placed on the worth of a property.
B
Back-End Debt-to-Income (DTI) ratio: Calculates how much gross income goes towards other types of debt that requires a monthly payment excluding housing costs.
Binder: Receipt for the deposit provided by a buyer to purchase a home according to the terms of the contract.
Borrower: Person who takes a loan from a bank or other organization under an agreement to pay it back, typically with interest.
C
Capacity: Borrower’s ability to repay a loan. Used as part of the three C’s of underwriting approval.
Capped Rate: The Specified value that an adjustable-rate mortgage (ARM) won’t exceed for a specific period of time.
Character: Creditworthiness of the borrower. Used as part of the three C’s of underwriting approval.
Closing: The final step in purchasing a home. Also known as settlement, the closing day is when home ownership is officially transferred to the buyer. The mortgage loan is funded by the lender, closing costs have been paid and the mortgage documents have been signed.
Closing Fees: Fees charged by the settlement company for the processing of papers, examination of the title and review of the loan documents.
Collateral: Value of the property being purchased, which is pledged as collateral for the loan. Used as part of the three C’s of underwriting approval.
Consumer Reporting Agency/Bureau: Organization that prepares reports used by lenders to determine potential borrower’s credit history. These agencies get information from a credit repository and other sources.
Commission: Fees paid to the buyer’s agent from the proceeds of the sale of a home.
Comparable Sales (comps): Sales prices of similar homes and properties used to estimate the market value of a home/property by appraisers.
Conventional Mortgage: Type of mortgage loan not insured or guaranteed by the government but backed by private lenders. Insurance on the loan is usually paid by the borrower.
Credit Report: Statement that has information about your credit activity and current credit situation such as loan paying history and the status of your credit accounts.
Credit Score: Number assigned by each of the three credit reporting agencies that reflects the credit history of a consumer based on multiple factors. Credit scores change based on the current financial situation of the consumer.
D
Debt-to-Income Ratio (DTI): Comparison of your housing expenses, monthly debt obligations and how much you earn. Lenders review two types of DTI ratios when you apply for a mortgage: Front-end ratio and back-end ratio.
Deed: Legal document used to convey ownership to the titleholders.
Default: Result of not paying a mortgage on time or paying less than the amount due.
Deposit: Sum of money due when a purchase contract is signed for a newly built home. The amount of the deposit can vary based on multiple factors.
E
Earnest Money Deposit: Deposit made by the buyer to show that he or she is serious about purchasing the home.
Equity: Amount of the property owned after all of the liabilities are removed from the market value of the property. Equity increases as the borrower makes payments against the mortgage balance, or as the property value appreciates.
Escrow: Account held by the lender that includes homeowner payments for taxes and home insurance until those bills are due.
F
Fair Market Value: Estimate of the market value of a property based on what a knowledgeable, and a willing buyer would pay for a property in the market.
Federal Housing Administration (FHA): Government agency that sets standards for construction and underwriting and insuring loans made by private lenders for home building.
Front-End Debt-to-Income (DTI) ratio: Calculates how much gross income goes towards housing costs. (Housing expenses / Gross Monthly Income)
H
Home Equity of Line of Credit: Amount of money that can be borrowed against the equity in a borrower’s home. The line of credit can be used incrementally and repaid over time.
Home Equity Loan: Fixed-rate loan that allows immediate access to equity in a home that is repaid over a fixed amount of time. Also known as a second mortgage.
Homeowners Insurance: Insurance that protects lenders and homeowners against financial loss from fire or other damages. Also known as hazard insurance.
I
Interest: Money charged for the privilege of borrowing money, typically expressed as an annual percentage rate (APR).
L
Lender: Person or organization that lends money under an agreement for repayment.
Lien: Legal obligation attached to a home or property that uses the home/property as collateral for a debt. Liens must be paid before a home can be sold unless the buyer is willing to pay the lien in order to buy the home.
Loan: Amount of money borrowed.
Loan Origination Fee: Fee charged by a lender for administrating and processing a loan. Sometimes called a “point” that’s equal to 1% of the total loan amount.
Loan to Value Ratio (LTV): Ratio of the loan amount to the appraised value of the home. Example: A $160,000 loan to purchase a home worth $200,000 has an LTV of 80%. LTV affects programs available to the borrower.
M
Mortgage: Debt secured by the collateral of a specific real estate property.
Mortgage Company: Company that borrows money from a bank then lends it to consumers to purchase homes. These loans are then sold to investors.
Mortgage Origination Fee: Charge to cover the work involved in preparing and servicing a mortgage application.
N
Note: Formal document showing the existence of a debt and stating the terms of repayment.
P
PITI: Principal, interest, taxes and insurance (Four major components of monthly home payments)
Points: Fee charged by the lender equal to 1% of the loan amount. Points can be paid at closing to lower the interest rate on a loan.
Preapproval: Mortgage qualification by a lender based on proof a buyer’s income, assets and credit score that gives the maximum loan that a buyer can qualify for. Final loan approval requires an appraisal on the home/property to verify that the value of the property is more than the loan amount.
Prequalification: Estimated amount of money a borrower can borrow based on stated income, assets and creditworthiness without complete verification.
Principal: Balance of a loan without interest.
Private Mortgage Insurance (PMI): Insurance that protects lenders against losses if a borrower defaults on the mortgage. Generally required for loans with a Loan-to-value (LTV) percentage greater than 80%.
Q
Qualifying Ratios: Ratios used to determine how much a borrower can afford to borrow. The ratio compares fixed monthly expenses to your gross monthly income. Lenders use this ratio to help decide on loan approval for a mortgage.
R
Real Estate Settlement Procedures Act (RESPA): Consumer protection act established by the U.S Department of Housing and Urban Development (HUD) that establishes rules for informing consumers about closing costs, settlement fees and mortgage loans.
Recording Fees: Fees paid to the county or state for recording property ownership in land records.
S
Sales Contract: Contract between buyer and seller that explains key details regarding the sale of a home or property. Details should explain what the purchase price includes, estimated settlement and move-in date, what happens if the buyer can’t get financing at closing, what happens if the builder can’t meet the settlement date or any other contractual obligations and what happens if the home appraises for less than the agreed-upon price.
Stamp Tax: Tax charged, in some states and counties, when the property is transferred from one owner to another. Also known as a transfer tax.
T
Title: Document proving ownership of property.
Title Insurance: Insurance that protects the lender against title defects. Homebuyers can also buy title insurance.
Transfer Tax: Also known as stamp tax, charged by state or county government when a property is transferred. The tax is part of the costs paid at closing.
Truth-in-Lending: Statement required by the federal government presented to the borrower at closing that discloses the estimated annual cost of the mortgage and the total cost of the loan over the loan’s full term.
U
Underwriting: A lender’s process for evaluating loan approval to a borrower. Most of the assessing falls under the three C’s of underwriting: character, capacity and collateral.
V
Valuation: Another term for an appraisal of the property value required by the borrower’s lender. The fee is paid by the buyers.
Veterans Administration (VA): Federal agency guarantees mortgage loans for veterans, members of the military and their families with lower interest rates and a low or zero down payment.
After much anticipation, the master-planned Hidden Trails Community has officially opened its luxurious 5,000 sq. ft. multi-million dollar amenity center to their residents in Bulverde, Texas. The extravagant facility boasts a plethora of resort quality, family-oriented amenities and is the centerpiece around coordinated lifestyle programming for residents.
The amenity center provides residents with all of the recreation and entertainment they need without having to leave the community. The state-of-the-art complex amenities include:
As a lifestyle-driven community, Hidden Trails not only provides residents with resort-style amenities but also coordinates community events and activities to create a congenial neighborhood experience. The master-planned community, managed by CCMC Community Management, has an on-site Lifestyle Director dedicated to coordinating fun family events, holiday celebrations, clubs & groups, fitness classes, art workshops, as well as occasional food truck gatherings. Past events include Spring Break Camp, Mardi Gras Madness 5K, Brunch With Santa, Barktoberfest, and Paint Night Date Night to name a few.
Homes within the community range from the upper $ 170s to the $ 340s, meeting a vast variety of buyer needs. Homebuyers can choose from four Everything’s Included® home collections from Lennar – The Watermill, Barrington, Westfield, and Brookstone II – consisting of 28 different floor plans.
“Hidden Trails provides a unique opportunity for families of all stages of life to experience affordable living in the scenic hill country,” said Tony Cerna III, Lennar San Antonio’s VP of Sales and Marketing. The Hidden Trails Community is nestled in the perfect location for families who desire to be “close to the city, but away from it all”. Residents enjoy living amongst the beautiful Hill Country surroundings with convenient highway access to San Antonio, New Braunfels, and surrounding cities.
Hidden Trails currently has a total of 700 homesites with 190 available for purchase. Future development plans include an additional 350 homesites with the next phase of construction beginning in May of 2019. Located at 32118 Lemon Mint, Bulverde, TX, Hidden Trails’ Lennar Welcome Home Center is open Monday through Sunday. More information is available by visiting www.lennar.com/new-homes/texas/san-antonio/bulverde/hidden-trails/ or calling 210-393-8095 to speak with a New Home Consultant to schedule a tour.
About Bulverde, Texas
The city of Bulverde, known as “The Front Porch” of Texas Hill Country, is rich in history and natural beauty with green rolling hills. The small-town charm with big city conveniences is highly desirable for families of all backgrounds flocking to the area, making it one of the fastest-growing cities in the country.
Residents and tourists alike enjoy an array of commercial amenities such as shopping, dining, quality healthcare, and endless entertainment. Attractions such as Canyon Lake, Guadalupe River State Park, and The Natural Bridge Caverns provide perfect getaways just a few minutes from the community.
The prestigious Comal ISD also draws families to the area with its excellent graduation rate, above-average test scores, and a wide range of programs for students.
About Lennar
Lennar Corporation, founded in 1954, is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar’s Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar’s homes and, through Rialto Mortgage Finance, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar Ventures drives Lennar’s technology and innovation strategies. For more information about Lennar, please visit www.lennar.com.
