We're back!!
If you read my last post which was in January, we faced the devastation of having our finance with the Commonwealth bank rejected, and losing our January start date with Porter Davis. We were informed in January that the earliest start date we could hope for if we got our finance sorted would be maybe June or July.
The Commonwealth Bank did everything to help us, but the low down was getting rid of some excess credit card debt was going to be the only way to build our home.
About a month later we were given the name of a mortgage broker by a friend. We were a little sceptical that anyone could help us, but this woman came highly recommended.
Kerryn Feder visited us one Saturday afternoon and breezed in with her portable office in a suitcase. After a few hours of going over our complicated finances, she bravely gave us some hope that maybe she could work at getting the loan through in two parts. She then left us to go and work on a solution.
Kerryn came back to us in a week or so with a couple of solutions. She could put the first loan through and consolidate our credit card debt with the equity that had already grown from our land. Once that loan was approved she would then apply for the 'construction' loan. It looked like a great plan on paper, but would the bank be willing to give us that much money given every lending institution was tightening up its lending options?
To cut a long story short, the first loan to consolidate debt was approved with no problems. Kerryn then got busy preparing the second loan for us. Ironically, she found the best option for both loans was with the Commonwealth.
We signed all the papers for the second loan, and after a couple of weeks passed, we found out this week that the construction loan is finally approved.
Kerryn was absolutely thorough with all our finances and honestly and professionally handled the whole process. She saved our home and made a miracle happen. We are very grateful for all the effort she has put into helping us get these loans! Highly recommended!!
We are now in the process of getting a start date with Porter Davis, and the best thing is that it's looking like we'll have a June start date. This means we should be in our new home by Christmas.
More to come......
