Sub Bids & Appliance Selection

Subcontractors were at the house today taking a look around so they can provide estimates. Roofing, plumbing, carpentry, hardwood floors. Electrical & HVAC will be able to work from the plans. We still need a lighting plan which will come when the construction drawings are developed.

Waiting on Revised Pricing...

Okay...so the pricing for the first round of schematics went a bit on the exorbitant side. Once I had time to let this settle, I came to the conclusion that this was part of the process in determining what we really need for the house

The Badger is Being Reassigned!

I have spoken with 3.5 lenders about their construction-to-permanent loan programs (I'm only counting the yahoo at Citimortgage as 0.5 based on his abundance of enthusiasm). Each program offers pretty much the same flexibility and general logistics. Current rates for both the construction period and the permanent mortgage are all within 25 to 50 basis points of each other. And costs are what they are for this type of project. HOWEVER, all lenders want to charge origination fees! *Gasps*

Can someone shed some light on this for me? Granted, construction/perm loans are not your bread-and-butter refinance. But that aside, how, in today's lending environment, are two borrowers, contributing both equity and cash to the project, with 800 credit scores and documented income, expected to agree to an origination fee? I'm calling up The Badger.