5 years of searching,
4 months of financing
3 mortgage lenders
2 much frustration
and 1 piece of land later....
Pizza and Beer on "our" little piece of dirt. (Priceless)
We couldn't have picked a worse month to close on a construction loan. We started with West Cost Bank, they pulled there LTV Construction loans a week before we were ready to close. The second loan company called the day we were to sign closing docs, and said they were pulling out of construction loans all together due to the number of Loan Companies going out of business. Its hard to believe a loan company can commit to funds then back out at anytime. Finally we locked in, signed docs, and funded with an Oregon based bank before the mortgage market got any tighter with construction loans.
3 comments:
Hello! Welcome to blogging! Glad you joined the bandwagon! I'll be watching!
Congrats on the land. I can't wait to see the progress. Make sure to keep up to date for all your blog stalkers!
I guess I have to sign up for google to send a comment. Thanks for the link I'll be checking in on it. Do you want the pics I took? Let me know if I can be of any help. I'm very happy for you both. Love mom
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