I spoke with our loan officer's manager. She is going to handle our file from here on out. She also said that we are going to deal directly with the mortgage broker that they planned on selling our loan to. A little background info: We refinanced our current house right before we signed a contract for the new home with Ryan Homes. We are keeping our current house as a rental. We used the appraisal from the refinance to prove that we had more than 25% equity (loan condition) in our current house that is going to be converted into a rental.
According to NVR, the fact that we refinanced as a primary residence right before signing the contract will make it difficult to sell our loan, even though we have excellent credit. We disclosed the refinance to NVR on day 1, so I am not really sure why it took almost 4 months to address this.
I am relieved to know that I am in better hands with the manager. I hope to hear from the mortgage broker tomorrow, so we can get things moving along, choose a program (FHA or Conventional) and lock in. I was told that the fees will be the same, the rates are the same and that we would be given the same closing help. I am going to be optimistic!
If you have been following me, you probably remember when we ran into a lot of problems in the beginning. One of the problems had to do with the appraisal. The appraisal was valid for 6 months. On the day of our pre-construction meeting, we found out that our new house would not be ready until after the appraisal's expiration date of 8/17. We were furious, because we were told the entire time that they would not have any problems building the house within that 6 month time frame (5 months by the time we signed the contract). We ended up having to pay $300 (discounted from $400 by the appraiser) for another appraisal to replace the one that would expire 1 week before we settled.
Our project manager, Josh, is A-W-E-S-O-M-E! The building process has been moving along so smoothly. He is on top of everything and keeps us up to date. All of the storm damage has been repaired. The holes in the roof were repaired, the windows were replaced, the tree leaves and limbs were swept out and the fallen trees were cut up and placed in a pile.
The septic tank was placed in the ground and connected on Thursday 7/5. I missed this! I think I missed the well being dug also. I really wanted to get pictures of both of these processes. Oh well!
Our siding went up today (7/10)! We chose Stone Mountain Clay. I was afraid that it would be too dark, but I love it! The vinyl floors were also installed today in the Jack & Jill bathroom and guest bathroom upstairs. The drywall mud was sanded on Saturday (7/7) and the walls were primed with their first coat of paint today. They began bringing in dirt and grading our yard. The air conditioning units were installed earlier this week.
I have a garage full of goodies... my Timberlake Rushmore Painted Maple Hazelnut Glaze (Custom request that I paid an arm and a leg for, but I LOVE them!), railings, interior doors, appliances and bathroom sinks.
|My Uncle Randy|
|Timmy, Grandmom & Mom|
|The kids' bathroom floors|
|Grandmom, Mom & I|
|My mom taking a sneak peak at the absolutely beautiful cabinets!|
|I LOVE our Timberlake Rushmore Painted Maple Hazelnut Glaze cabinets!|
|Too funny.. the workers must plug this up to their generator for a hot meal!|
|Garage full of goodies, hubby & uncle!|
|Stone Mountain Clay Siding|
|Sanding the drywall mud|
|Lined up and ready to go|
|We have A/C units!|
|Fireworks along the power lines from the Blue Crabs Stadium... seems a little dangerous, but beautiful!|