We are officially re approved on our home loan. Again we held our breath until we got the magical, "YES"! There is no real difference with this loan compared to the last, other then that there are a series of money pulls during each step of the building process. Before the next pull can occur, the bank will send someone out to the home site to do an inspection. This will happen at each pull.
We didn't know if we would have to start paying on the interest after each pull, but the builder essentially pays for it and our responsibility comes in after the home is turned over to us. It is nice to know that we don't have to come up with additional money each month for the interest. Now we can focus on other things that will need bought before we even rest our heads on our pillows for our first night in the home; appliances, garage door opener, blinds. Don't want anyone peeking in on us through the bare windows, now do we???
Not that is was any less real of a feeling before getting re-approved with this new lender, but it was a set back that we held our breath on. Everything up until that point was going very smoothly.
Our next step is to begin the REAL paperwork process at the end of July/beginning of August. This way there will only be 24/72 hours before the start of the build to finish up the rest of the paperwork for signing in September! I don't know how I am going to be able to contain myself until then. At least we have spring and summer to look forward to. I don't know what I'd do if I had to make it through another entire holiday season before all this would begin. At least we know we'll be in the house before the end of this year! YAY!
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