Read part 1 here
Now that we had our lot, the next step was securing financing. Because we were building with Allen Edwin, we didn’t need a construction loan, just your standard mortgage, and to get started, all AE needed was a pre-approval and a down payment. We went through the process with one of their preferred mortgage brokers…and came back with a maximum loan amount $100,000 short of the house we wanted to build. Unfortunately the work Troy had done on his credit wasn’t enough, it was still too low for us to qualify for the amount we needed (and could afford!) for the house.
At this point we went into “game plan mode” with AE, and the mortgage broker recommended a company called Garrenteed Solutions to help with the credit repair. As long as we were working with the team at Garrenteed, we could remain in game plan, keep our lot secured, and maintain our dream of building with Allen Edwin.
The 40 days after signing up with Garrenteed were probably the most stressful part of this process thus far. There were lots of ups and downs, and a lot of tears. Knowing we needed to sell our condo regardless of what happened with the house, we listed, held an open house, and accepted an offer 24 hours later. After the appraisal and inspection came through, we had about a month to pack everything up and vacate the property. Again, there were a lot of tears. It was incredibly depressing and frustrating packing up our entire life, not knowing where or when I would ever see my belongings again.
We spent the last weekend in June moving out of the condo, with half of our stuff going into a storage unit and half going into my childhood bedroom at my parents’ house. We had begun looking for a rental, but, without knowing the status of the build, we weren’t prepared to commit to a year-long lease just yet. Those last moments in the condo were rough — I can’t even think about it now without getting a little misty eyed. People kept telling me that we were moving on to bigger and better things, but I just couldn’t believe it at the time — too many things were up in the air for me to feel positive about selling our home, the one place I felt completely at ease.
With the help of Troy’s mom and sister, we finished with the move in record time. By Monday, the day we were set to close, we had finished up before noon and decided to head to my sister’s house on the lake for a few hours to relax before we had to be at the realtor’s office.
Even though I had a million things on my mind that day, I tried to enjoy the beach and a cold beer with my husband. We took the boat for a trip around the lake, and I tried to pretend this was our life, instead of a borrowed boat and all of my belongings in a storage unit.
I really tried to look at the positives. We had sold the condo before the association dues went up — if that wouldn’t have been possible, who knows how long we would be stuck there. We’d be saving money — no matter what, we would try to live below our means and put away as much money as possible for that house, whenever we did get the chance to build it. We aren’t homeless or without jobs — this is just a temporary situation.
Then the phone rang.
To be continued…