Let's fast forward from last time.
-land loan was closed back in December as planned
-started making payments the next month*
-more back-and-forth with the architect
-final sign-off by us on the plans
-paid the architect for the remainder
-Dawn and I are going to pay off the land (hopefully) before we start building so we have the land as collateral and have that much less to roll into the construction loan
Notes:
* The lady at BB&T was plain wrong on a few accounts: The length of the loan; the percentage of the down payment needed for the loan; and the interest rate. All of those made for a higher-than-expected monthly payment. That said, we may not be going with them when we move forward with the construction loan...
Current Costs
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Building Your Own Home For Dummies - $19.95
Perk test - $350
Survey - $1855
Architect - $1500
Closing costs - (need to look those up)
Architect balance due - $2438
