Today, a significant event in the progression of this “little project” took place.

This morning, Michelle and I signed the closing papers for the construction and “permanent” loan to build the house. In other words, all of the b.s. we’ve dealt with regarding financing has culminated into an agreement with the lender.

To be fair, this isn’t a typical loan. This isn’t even a typical construction loan. A few factors make it ugly: we are self-contracting (and as a self-contractor, I don’t exactly appear competent–what being a Database Administrator and all); we had to have several “pieces” in place before it was deemed a buildable site (like well/septic and road to get to those); and simply, the proof of capability to pay the loan back! Combined, this became a difficult loan to sell to a lender. Kudos to our broker. I am usually very reluctant to use a mortgage broker, but in this case, she sure earned her money! If you need someone, I’d highly recommend her–contact me.

The next step is actual recording and funding. This usually takes place 1-2 days after signing–so early next week (*fingers crossed*). [edit: 3 business days to record and fund, so we’re looking at Wednesday.]

With this, I hope to now blog much more about our progress on the property. And, now that there is a gallery, there should be some pictures to share soon too (as the landscape changes)!