Monday, June 24, 2013

The Driveway and Financing

We spent the afternoon on the lake yesterday, it was soooo cold and windy we didn't spend much time in the water.  I got in one and one skied, Brock and Bjorn went swimming off the shore. Bjorn named it Jackson Beach so I think it will forever be named after the dog. We did spend some time drift trolling, although we didn't catch anything it was an awesome afternoon. After we go off the lake we took the boat to the property. Its finally starting to feel like something is happening.

When we got to the property I finally got to see the work that Brock did on the driveway. I think it's starting to look like something has happened a bit. I'm still not positive where we will put the house but maybe down where the trailer is. I really want to make sure that we pick the right spot so we get a good lake view. 

As for our financing issues. In order for us to get Brock's ratios inline. We had to pay off one of Brock's snowmobiles, and the $5000 credit card we used to pay for the property. Brock had to file an insurance claim that meant we lost the green snowmobile because it was "totaled." Once again our bank account are totally empty. ;( Construction loans are a little bit different then home loan in that we have to be approved to finance to total price of the project. I.e even though the lot is paid for we have to be able to qualify to replace the property. Not really sure why...

As for the loan side. We are waiting for the bank to get the appraisal back to make sure that the value is what it needs to be. I didn't even know that she was that far into the process. After they okay the amounts, we go into underwriting for the full loan amount, then it gets sent to the construction loan center, for them to process the construction side. The loan officer said we about 3-4 week out before we can start construction. It feels like we are never going to be able to start...

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