Buying a home, whether for the very first time or not, is an exciting time. At Suncadia, we know how important it is for members of our community to purchase a home they will love for years to come, one that fits their lifestyle and that they are happy to come home to weekend after weekend. That’s why we have partnered with some of the best home builders, architects and lenders in Washington. Here, we chat with Steven Davidson and Ryan Fred who specialize in homesite and construction loans at First Interstate Bank.
Tell us about First Interstate Bank and your role there.
Founded in 1968, with headquarters in Billings, MT, First Interstate is a community bank offering a variety of services. Our expertise is lot and construction lending for golf course/resort communities, and custom residential construction financing. We have worked with Suncadia for three years now and with 50 to 60 families, many on them on multiple properties and transactions. Together, we have been in the business for nearly four decades.
Finding the right mortgage broker can be challenging. What do you think are the right questions to ask a potential lender?
Service is the best thing to ask about because going for whoever offers the cheapest rate isn’t always the best option. We excel in the service we provide after the loan closes. When you’re building your dream vacation home, you want to make sure your builder is getting his draws in a timely manner to keep the subcontractors happy, and keep the project moving as fast as possible. One way we do this is by proactively ordering our new construction progress inspections in anticipation of the builder’s draw each month to keep the money flowing.
As a lender, what is your goal? How do you best serve your customers?
Our goal as a lender is to keep everyone happy: the client, the builder, processing, and underwriting. We want to make sure we understand the client’s expectations up front so everyone is on the same page regarding timing of the project. Most folks will simply buy an existing home and so they’ve had mortgage experience with that but not necessarily with construction on a new homesite. We will hold the client’s hand, so to speak, and show them the steps on how to get the project off the ground.
Our experience is our best asset. Our team does roughly $120,000,000 per year in this type of lending. In my opinion, we know this program better than any other lender in the nation!
How is your mortgage approach different or unique?
We do everything in house, from processing to doc drawing and builder draws. We manage the project from start to finish and if there are any questions or issues before, during or after, we are there for the client. Your loan doesn’t get shipped to some third party after funding; we stay in constant contact with the client and builder. We specialize in the ‘service after the sale.’
How does your service differ from what other lenders or companies offer? How is your approach different or unique?
Our program is an all-in-one construction loan. Some other lenders have a two-step program: two sets of fees, two sets of paperwork, two headaches. Our rate is locked in up front to protect the client from any rate hikes during construction. If rates are lower at completion, the client is welcome to refinance if they choose. We also gather 99% of the documentation we’ll need for the transaction right up front. We don’t draw out the approval process by continually asking for additional documentation. We gather only what we know the underwriters will want and nothing more.
Want to learn more about our featured lenders at First Interstate Bank? Contact Steven Davidson at steven.davidson@fib.com or Ryan Fred at ryan.fred@fib.com.
Building a custom-designed home probably ranks high on every homeowner’s dream list. At Suncadia, we know how important it is for members of our community to build a home they will love for years to come, one that fits their lifestyle and that they are happy to come home to weekend after weekend. That’s why we have partnered with some of the best home builders and architects in Washington. Meet Galen Page, President of Page and Beard Architects.
Established in 1990, Page and Beard is a full service design firm that helps clients through the site development and building design process. “We have designed traditional northwest style homes, Suncadia craftsman and what is now being called modern mountain designs,” says Galen. “Our passion is to understand what our clients want and provide quality design solutions that satisfy their needs and desires.”
Over the last 15 years, the architects have designed more than 50 homes in Suncadia. ”Some of my more recent clients have expressed interest in a little different style of architecture,” says Galen. Indeed, what he calls the “Modern Mountain“ design style is becoming increasingly popular and luckily, the Suncadia Design Review board has been very receptive to this style of design. “I think it helps provide a more diverse and interesting community and still maintains the quality and character of the resort’s design intent.”
Here, Galen talks about the design process and building a dream home for every client.
Understanding the Client
When working with a new client I always ask them to provide examples of what they like and dislike about a house. Using terms like Traditional Northwest Design, Craftsman or Modern Mountain Design can be misleading. I want to find out what my client means by those references. Designing a custom home is very personal. What I design for my clients should be a reflection of what they want and love about a house. I need to get to know as much as possible about how they live and feel about design and architecture. The internet is a great resource to communicate ideas and materials and I encourage my clients to come prepared to talk about everything and anything that gets them excited about design.
Design Practice
I think that my practice is different than others because I am involved in the design from the start to the finish of every home. I have a personal interest and connection with every client. I have designed dozens of custom homes in Suncadia and I know the Design Review Guidelines like the back of my hand. I also know most of the builders and understand the development process.
Nature As Influence
I think the home designs in Suncadia reflect the northwest character they were designed to express. Because Suncadia has a diverse climate, the homes must function to respect that seasonal influence. The orientation of the homes must not only face the views but also respect the other elements like the sun, wind and snow. Covered outdoor spaces have become very important year round. They provide shade in the summer and protect from snow in the winter. Providing spaces that are in the sun and out of the wind become a very integral part of the Suncadia design concept.
Home As An Expression of Character
A custom home should not only be functional and efficient, it should also reflect the design character and structural expression imposed by the occupant. A custom home should somehow express the character and quality of the structure. Exposed framing and natural materials can add a quality and detail that can emphasize the beauty of a space. Natural light and windows can bring the qualities of the exterior environment deep into a space and provide a direct connection to its surrounding and potential views. Some of the most successful spaces that I design are the ones that connect the inside spaces with outside spaces.
His Dream Home
I think my house might look a little different than some of the other homes in the community. I would design a house that was very energy efficient. I would like to put some of it underground. My house would not be very large. I think I could live in a house that was under 2,000 square feet and it would be heated with hot water generated from the sun’s energy. I would also like to be off the grid and have space on my roof or site for solar collectors that provide electric power with battery storage. I think my house would have a very simple roof line and exposed structure that expanded well beyond the footprint of the house. I would have a large amount of glass in just the right places and a huge stone fireplace that would look like it supports the entire house.
Interested in learning more about custom designing your home or viewing a home designed by Page & Beard Architects? Contact a member of the Suncadia sales team at 509-649-6000.
Buying a home, whether for the very first time or not, is an exciting time. At Suncadia, we know how important it is for members of our community to purchase a home they will love for years to come, one that fits their lifestyle and that they are happy to come home to weekend after weekend. That’s why we have partnered with some of the best home builders, architects and lenders in Washington. Here, we chat with Kristin Jeffries of Fairway Independent Mortgage Corp.
Tell me about your role at Fairway Independent Mortgage.
Fairway has been in the mortgage industry for over 20 years. Specifically, my business partner, Shane Kidwell and I, have been working as featured lenders with Suncadia for the past two years. We have offices both in Kittitas County as well as the Seattle area to best serve our Suncadia clients. Suncadia is an amazing place to own a primary residence, second home or investment property. The community offers many options to become an owner including purchasing a completed home, buying a lot and building a custom home or purchasing one of the condo options. Our team is a Top 1% Mortgage Originator and we specialize in being the Suncadia financing experts! With all the ownership options, there are also a lot of financing options that are directly correlated to each of the different types of property that someone would purchase.
What is your expertise as as mortgage broker?
Over the last two years, our expertise has truly become all the financing needs within Suncadia and those specifically include Jumbo Home Loan Financing, Conventional Financing, Suncadia Condo Financing (as the condos within Suncadia require a specialized lending product) and Custom Construction Financing. I have been working with Suncadia Homeowners for over 12 years. In addition to this experience, Shane is also a homeowner within Suncadia and personally went through building a home in the community.
Between Shane and myself, we have worked with more than 50 families to purchase homes, condos or build their dream home in Suncadia.
Finding the right mortgage broker can be challenging. What do you think are the right questions to ask a potential lender?
Navigating the home loan process can feel like an overwhelming experience, and even more so in Suncadia where there are many different types of products that you can purchase. At the end of the day, all mortgage originators operate on the same mortgage market that drives interest rates, fees, etc. but I believe the right questions to ask are more directly related to how purchasing in Suncadia would look for each client.
A couple examples would be: “What would financing options look like for us if we bought a home currently on the market vs purchasing a homesite and building a custom construction?” Another question to ask is, “How do Homeowners Association dues, taxes and insurance influence each of the different purchase options in Suncadia?” Purchasing in Suncadia is truly about understanding what each product offering looks like from a financing perspective and how each option would benefit each client.
As a lender, what is your goal? How do you best serve your customers?
We believe in partnering with our clients and each Suncadia Real Estate Agent to find the best home and home loan combination that fits the client’s specific needs. Our goal is to always add value to the mortgage loan process and educate each client about every different financing option within the resort and the pros and cons to each option to their specific situation. We are always going to be the lender who asks you about your goals, family and what you are looking for in a lending partner. From there we work with you and your realtor to educate you about the home buying process in Suncadia.
How is your mortgage approach different or unique?
We have the expertise but we also offer Suncadia knowledge and local knowledge of the area. We are unique because we believe in being a Suncadia financing expert and advisor to you during the entire process. We always go the extra mile to ensure we meet and exceed your purchase and financing goals.
Want to learn more about Kristin Jeffries and Fairway Independent Mortgage? Contact her at Kristin.Jeffries@fairwaymc.com.