Dave, our mortgage officer at Cyprus, left a message on Ty's cell phone today.
D. E. N. I. E. D.
Yep, denied for our final financing. Apparently they didn't like the HELOC we had on our Stansbury home of $95,000.
Nevermind that that home is up for sale and will sell eventually and the HELOC will be paid off (hopefully in the next couple of months).
Nevermind that we have the cash to pay off that home if we wanted to right now. We would just be short on cash for the downpayment on our Lake Point home.
Nevermind that we got approved for our construction loan through Cyprus and that was $36,000 more than the loan we're trying to qualify for now . . . WITH ALL THE SAME PARAMETERS!
D. E. N. I. E. D.
Yep, denied for our final financing. Apparently they didn't like the HELOC we had on our Stansbury home of $95,000.
Nevermind that that home is up for sale and will sell eventually and the HELOC will be paid off (hopefully in the next couple of months).
Nevermind that we have the cash to pay off that home if we wanted to right now. We would just be short on cash for the downpayment on our Lake Point home.
Nevermind that we got approved for our construction loan through Cyprus and that was $36,000 more than the loan we're trying to qualify for now . . . WITH ALL THE SAME PARAMETERS!
I haven't dared to hang pictures on the walls until I know we own this house.
Faith. We will sell our other home when the time is right and right buyer comes along. We will be able to finance this home, maybe just not the traditional way. It will all work out. It always does. And, looking at the bright side, we haven't had two mortgage payments to worry about yet.
We are indeed squatting in this home and loving every minute of it. But, if we end up moving back to Stansbury, at least I'll be moving into a VERY clean, fixed up house.
Faith. We will sell our other home when the time is right and right buyer comes along. We will be able to finance this home, maybe just not the traditional way. It will all work out. It always does. And, looking at the bright side, we haven't had two mortgage payments to worry about yet.
We are indeed squatting in this home and loving every minute of it. But, if we end up moving back to Stansbury, at least I'll be moving into a VERY clean, fixed up house.
1 comment:
How frustrating! Good luck with the red tape.
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