Moving to almost the great white north.

[Mopar1973Man]

Sorry to hear your still trying to get a loan.

[Scarecrow]

Are you using a local bank? They should know what lake front property goes for.

 

[Me78569]

Banks can no longer be involved in the appraisal process on any fed backed loan.  

 

That covers loan types of

FHA

Fanny mae

freedie mack

Conventional

etc

etc

etc

 

 

The way it works now is banks must ask a 3rd party company for an appraisal, that 3rd party company goes through their list of contractors in cycles and ask " will you do this?"   

 

when one says yes you then book it.   At that point it is up to the contractor to do it good enough.  

[JAG1]

Did you find an appraiser yet?

 

A little trick..... have patio furniture out with plenty of fishing poles leaning up,  make nice big appraisal 

Edited September 6, 2020 by JAG1

[Me78569]

The bank has it and it is in "quality control" whatever that means.

[JAG1]

Nick, you went directly to a bank and avoided loan brokers like Lending Tree and others? Please tell me if you have a reason as we just contacted a broker, but they talk like they are loan sharks. I don't like that. We are wanting to lower our interest rate, we can almost cut it in half at this time.

[Me78569]

I went right to the bank.  I didn't think about a broker.

[JAG1]

Brokers work on a interest rate yield spread that they don't tell you about. Over the life of the mortgage even if the spread is just a third of a point it adds up to many thousands of dollars which they get the full amount of that spread once the loan closes. Car dealers do the same thing and won't reveal that usually.

[Me78569]

appraisal came in at 265000 so we are on the home stretch. closing is the 21st.  

 

 

thank god

[Me78569]

Morning Picture

 

[Royal Squire]

Where is the “white”?

[Me78569]

It's still being shipped.

[Royal Squire]

I think it was delivered to my address by mistake!

[Me78569]

we offically signed today.  we are no longer renting and are now in debt to the bank.

[Dieselfuture]

I want to say so much, but will restrain my self to saying congratulations and happy future.

[dripley]

Congrats on the closing.

[JAG1]

Now can we turn it into Moparman private fishing resort? 

[Me78569]

someone turned on winter mode.   we have had a few days of -10* so far and the snow is starting to build up finally.   Ice fishing has been slow, but it is better than working.

 

 

[Mopar1973Man]

Nice. I'm hoping old man winter drops a few feet here. Been rather just cold and wet. Seen a few like 15 and 19*F mornings. Nothing much. 

[Me78569]