So, the mortgage lender lady finally calls me back......and says I have good news and bad news. The good news is that we qualify for the higher amount the house ended up being estimated at. The bad news? Well, they figured out the address of our property and realized it is 80 miles outside of their lending area radius! are you kidding me? When I told her 6 weeks ago or whenever it was, that we put an offer on the land, where it was (the town name), she didn't think to check that? So, now we have to start all over getting approved for a loan. Doesn't do me a lot of good, with her "good news" does it? But she says that just means if they approved it, so will another bank. ok. we'll see....
So, not exactly sure what we are doing....the builder keeps totally confusing us, as he keeps saying he wants to give the bank a higher estimate of costs (than it will actually cost) so it will appraise higher. Well, the bank wants 20% cash as a down payment. Where we are at with numbers right now is about exactly that we will have the 20% to give them. If we give the bank an even higher number, then we need to have even more cash to give the bank for the down payment. He's making no sense to me. He keeps making it sound like if we get a higher appraisal, that usually helps people out with more equity towards their down payment.
If we can swing this, it will probably just be better in the long run,
since this bank and the builder work a lot together. Things will
probably go much smoother. I just don't need the additional delay of
going through the approval process again.
And on top of that I'm dealing with a hubby who is on a rant. He bought a used car trailer last summer. Has spent the past year fixing it up. Even bought some nice brand new high quality straps (that we'll need to use to move an old t-bird car we have). A friend of his just called and asked to borrow the trailer. DH hasn't even gotten to use it yet! Then the guy says "oh, and you have straps too, right?" So, DH's brand new straps are going to get all dirty and greasy before he even gets to use them. I told him just to say NO. But he can't and then bitches that he gets used and taken advantage of.......