Mortgage Happy Face

Back in November on the 28th I vented about our horrible loan experiences due to the house being unique and us being misunderstood artists. Today BECU dispatched a notary to the house to witness signing of all of the papers for a HELOC. Three business days from now the funds will transfer and YEAH! we will have completed this journey we started last year in June to buy some money. We now free rein to start building the next wing of the house.

Lesson learned – Don’t build an odd / unique house if you want to borrow money against it. If you are only looking for 80% loan to value and a 1-point interest rate variance is no big deal to you. Go for a HELOC because they do “desk appraisals” vs. normal sending someone who does not understand art to your house to appraise how it compares and can be priced against other similar / same houses in 25-mile radius.

Much stress gone – excited to be able to break some ground and get back to building the compound

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