Academy Mortgage
The only news here is that we appraised well, at 83%. This means a thumbs up for building. We also had to do a site visit with one of their contractors. He took some pictures of the property for their files, and gave us some information about the loan process. He explained how the construction loan payments and withdrawals work. Basically, we can only do one withdrawal a month (easy record keeping) and are sent one bill a month of 9% interest only payment on however much is charged to the loan. Not terribly thrilled about this percentage, but we're rolling with the punches here.
Site Survey
The property had a land survey done about 10 years ago. We had to hire a land survey company to locate the corners and put in in-line points, so we know where our property lines are. This had to be done ASAP for the Septic Design. We should be able to check this off on Monday!
Septic Design
We have already written about the perc testing. The next step is getting the septic design drawn up and permitted by the county. The septic designer needs the perc test, the water availability certificate and the site corners marked. You can see how these puzzle pieces start to fit together. He will actually handle the permitting, which is helpful.
A note of caution here!!
The county (at least ours) will not even review a septic design unless a landslide hazard assessment has been done by a GeoTech (if you have that restriction on your parcel).
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