Buying a home has required a trip to the lender for as long as people can remember. Today it is right next to a necessity. For me it has been close to ten years since I have had to woo the loan officer at the bank. That wooing today has become quite intense and expensive. Our last home purchase was fairly painless. A few bank statements, a credit check and thirty days later we were signing the obligatory stack-O-papers. This go around, post housing market flop, I have spent countless hours just getting to a point where I could get a pre-qualification letter. As a borrower with top tier credit and over 35% down on a property selling for under its appraised value (read as equity) I should be picking which lender I want to use. Not the case, I have gone through at least 10 lenders to get to the buying point. In comparison to my last home purchase, there are added factors to this purchase. The amount of land places the property into a commercial or agricultural category. Or at least did. I had to break the property up into two deeds and survey out a small part for the house (a house and a lot as it is considered) and deed the rest of the property separately as farmland. Now making for two of everything... appraisals, title searches, escrow accounts, monthly mortgages, you name it. Even two different loan officers. One residential and one commercial. The two deeds even necessitated that the sells contract be redone. One has now become two.
Is this a bad thing. Probably not... In the long run it will be to my benefit. Does that make it less painful or laborious? Not even a little bit. Sunny side up! everything looks to be going my way (aside from interest rates). I am setting my eyes on the first week of April and trying not to think about the worst part of buying a home... The boxes!