I've started the loan application process for a construction loan. Even though the builder hasn't (still) given us his updated numbers, I was hoping to at least see what we qualify for and then we can adjust, if necessary, when builders numbers come in. I am first trying the bank that the builder had recommended to us, back in June of 2016. He works with them quite a bit and they are very familiar with working with him. So, I emailed the same lady from before. Through their bank the process works as you get approved for your long term (mortgage) loan first, then you get approved for the construction loan. Another guy does the long term loan part so she has passed me on to him first. I have a feeling he is her husband, as they have the same last name and it's not a common name, LOL. He said we have enough down with just our land owing free and clear, so that is good. We have also added $15,000 in land improvements, which should increase that even more. Plus we will be using proceeds from sale of this house towards down, on top of that. I asked what the "construction reserve" % would be........they do not require a reserve! That is very good news. The other bank/lender I had talked to "back then" wanted a 10% reserve. I should at least know about a pre-approval this week, it sounds like. If I knew what the builders numbers are going to be (obviously more than 2 years ago, when he did a cost breakdown for us, are going to have to be adjusted), I could have a better idea in my mind what our down payment will be, but it should end up being in the 25-30% range.
I needed to get him some documents emailed yesterday morning. The usual: last 2 years of tax returns, w-2's, etc. I had already gotten those ready. He also requested a copy of my driver's license. My nifty little scanner doesn't do hard documents like a license, but I have another printer scanner. I haven't used it since we moved here, I don't think. LOL. I have a b/w printer I use for my printing needs. Well, apparently even though plugged in, it was never set up to scan on our home network. I couldn't remember how to do it. Ok, I'll just print a copy of it with that machine and then use my nifty scanner to scan that piece of paper. Nope - the printer is almost out of ink and the copy wasn't legible. After googling it I realize the printer/scanner needed to be plugged into a computer via USB. Where is that USB cord? I got lucky and found it (or one that worked) in my desk drawer. Finally, I had my driver's license scanned.
DH had thought he recalled his neighbor friend across the street saying his birthday is in January. I texted his wife yesterday to ask and say we wanted to take them out to dinner for his birthday....or even if it's not his birthday LOL. She replied back that his birthday was the day before, LOL, and have DH text him to set up a time, maybe Sunday?. Friend isn't due back from his 2 weeks away at work until tomorrow. Sunday would be good time to have an evening out. I don't work Monday and I'm sure she doesn't either, since she works for school.
That's all I've been doing this week. Finished a book, waiting for the next one in the series, but in the meantime started Origin by Dan Brown. Really good so far, but I've liked all his Robert Langdon books (and movies).