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Home Builders Association of Greater TH
Friday, Nov 7, 2008 @11:31am EST
Highlighting 43 years as an association……………………………………
• First meeting was on April 22, 1964 in the back room of Louises Restaurant
o 1 of 350 local associations in the NAHB at the time; presently there are 800 associations with 220,000 members
• Several days prior to the charter banquet, a dinner meeting was held in the back room of Tucker’s Steakhouse to determine the interest of the home builders in T.H. to form an association. An official presentation was made by several state association officers & Marion County Residential Builders officers to offer the merits of organizing such. The response was tremendous.
• Of the 22 T.H. builders and associates who returned one week later to the charter banquet, 17 signed the charter to begin the HBA of Greater T.H.
• The 17 Charter Members were:
James Adams Fred Locke, Jr Lawrence Rumbaugh
R. Keith Gilchrist Jack Dempsey Michael Dragon III
Jerry Reel Wm. Underhill Sam Sterchi
Cecil Combs Bernard Tyler Paul Lemont
Jack Miller Tom Francis Victoria Willey
Tom Price
• June 3, 1964 held it’s first election to establish a Board
Tom Francis, President Tom Price, Vice President
Jack Dempsey, Treasurer William Underhill, Secretary
State Director: Cecil Combs NAHB Director: Paul Lemont
Directors: Robert Fischer, Kermit Lough, Louis Grandidier,
Doyle Howell and Sam Sterchi
• Have had 39 Presidents – Tom Francis serving 3 terms;
• Bob Kennedy, Lee Dillion, Mark Tarrh, Terry Day serving 2 terms
• Home Expo – 1967
o Held in Lincolnshire Subdivision with 4/5 homes. Charged 50c per person
o Used snow fencing to restrict the flow of the traffic
• 35 Home Shows
o Largest Fundraiser of the year
o Started in 1973 when Jim Spence was President with the first one being held at the Honey Creek Square Mall with 40 vendors
o Did not have a Show during the electrical black out in the late 1970’s
o 2006 – 149 booths sold
• 20 Parade of Homes – Started under the recommendation of Tom Francis in 1989 with 18 homes participating; 2006 – 15
• Our last building located at 425 E Margaret was built by members of our association in 1984 under the Presidency of Lee Dillion.
• Our current building at 2747 Sidenbender Rd was completed in June 2004 with Brian Cottom as President.
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Local Stocks
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Financial Focus
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Types of Auto Loans
There are two types of auto loans: long-term and short-term.
Lending companies usually offer long-term loans only for new cars. A long-term loan generally lasts for a period of 36, 48 or 60 months. Loans for used vehicles are usually only available for shorter terms of 24 or 36 months.
Longer term plans carry a smaller monthly payment; however, you will pay more over the life of the loan. A three-year $15,000 loan that is lengthened to four years will decrease your monthly payment from $450 to $377. However, your interest rate will increase from 5 percent to 9.5 percent. The total amount you pay over the life of the loan would increase from $16,200 to $18,096. Our Auto Loan Early buyoff calculator helps you find out how much interest can you save by increasing your monthly payment (shortening your loan term).One potential pitfall of a long-term loan is that the car's value can drop below the loan principal amount if the vehicle is destroyed or stolen during the first year or two.
Short term plans will mean higher monthly payments, but you will be charged less interest and will pay less overall.
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Types of Mortgage
Fixed-rate and adjustable rate mortgages are the two most basic kinds of mortgage loans. You can choose a mortgage with the same interest rate forever, or one that changes.
Fixed-rate Mortgages
This is a very stable kind of mortgage. A fixed rate mortgage keeps the same interest rate for the life of the loan. For most people, especially first time homebuyers, this is the best option because you pay the same monthly principal and interest rate.
Adjustable Rate Mortgages (ARM)
Interest rates for adjustable rate mortgages (ARM) can change over time. Some people like these because you can get a lower interest rate and monthly payment in the beginning of your mortgage. Every ARM starts with an adjustment period, a specific amount of time when your interest rate stays the same. After this, your interest can go up or down, and can only go as high as the lifetime cap.
There are many combinations of fixed-rate and adjustable rate mortgages, so be sure to consult your homeownership counselor for help.