I called two local (local to Moneta, VA) banks yesterday to start the process of getting a construction loan. Our house is providing no where near what we had hoped 3 years ago in equity! Jack will be our general contractor and there is a financial bank penalty for what they call a “self-build.” The rate is about 4.25% right now but I am still sending them all of the documentation they need before we actually talk with them in person. They want paper copies. Really? I don’t do paper statements nor paper tax forms. I pdf’d the files.
Today is the mechanicals inspection on the house; next week termite and septic inspection. More hurdles towards closing!