Finally, about to secure the bank loan necessary to build our custom house. It’s interest only at 4.5% for the initial 12 months to construct, upon which it will convert to a 30yr fixed.

Appraising a home that doesn’t  exist was the most frustrating part of the process. So much rides on it in determining loan to value. Needless to say, ours came in much lower than expected and  it became clear we were going to come up short on the cash to close.

(Dad and Irene totally came thru but that’s a post for another time.)

Anyway, we are  now city permitted, bank funded and personally committed to break ground on our new home!

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