From the category archives:

financing

Financing for 100K House is Official!

January 25, 2008

Hurray! I just received the commitment letter from our lender – The Bancorp Bank. The Vice President of Commercial Lending, Edward Dixon, got all of the necessary signatures to approve us for the loan and move us to the next level. Our closing on the land is scheduled for February 22nd and we simply need [...]

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Quick Financing Update

January 24, 2008

Just a quick financing update before I head to Philly’s annual Home Show to visit some “green” product vendors and see if anything else tickles my fancy. We received an update from our loan officer that he has all but one of the signatures he needs and should be getting the last SVP to sign [...]

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Financing Term Sheet

January 3, 2008

It’s been a while since I’ve given an update on our financing situation. The previous posts on financing have been some of the most popular posts from the blog to date so I can assume that many are hungry for more info on the topic. When we left off last, we had been rejected by [...]

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Financing Update

November 27, 2007

We are in the process of applying for financing with three new banks right now. It looks like we should have an answer from them in about two weeks which will be just in time for our due diligence deadline on the land. I am also meeting with another local development team, who also happens [...]

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First hurdle encountered

November 20, 2007

Since this is a blog about every detail of the project I guess that means we need to share the good with the bad or the successes with the challenges. I’ve been told that development is mostly about coming up with a good idea and then overcoming a bunch of challenges to ultimately end with [...]

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