The Bank Comes Through!
I found an interesting article on MSN Money that explains why the mortgage lending system is broken and I think I understand why so many people are having trouble getting mortgage loans. The article is at MSN (http://realestate.msn.com/article.aspx?cp-documentid=33371952#scptih)
At any rate, after contacts and negotiations with 3 banks and one private lender (Don Salvatore made me an offer I just had to refuse) ; after over 700 pages of documents were faxed, scanned, copied, emailed, or just mailed; after 14 months of trying, we finally have a construction loan!! Amazingly, it is a 3.25% ARM mortgage, one-time-close, so we are in business. Yeah!!
Most of the work recently has been behind the scenes, ordering windows, rock, slate, fireplaces, gearing up for a major push in the coming weeks.
We do have some solid progress to report in the plumbing, however.
Remember the Chinese Delta ripoff shower valves? Here they are in a proper installation.
Most of the work recently has been behind the scenes, ordering windows, rock, slate, fireplaces, gearing up for a major push in the coming weeks.
We do have some solid progress to report in the plumbing, however.
Remember the Chinese Delta ripoff shower valves? Here they are in a proper installation.
Notice the use of PEX (cross-linked polyethylene) tubing, which connects with the copper pipe. The PEX tubing will not crack when it freezes, but the copper pipe will, so you have to make sure the water drains down and away from the valve.
Here's the shower valves in an improper installation:
Notice here the water does not drain away from the shower valve and will cause the valve and pipes to burst when they freeze.
The vertical pipes going up from the valve on either side will have air pockets to prevent banging or knocking sounds in the pipes.
Our water heater will be a propane tankless water heater, which is more energy-efficient since it only heats the water on-demand, rather than keeping a tank full of water heated at all times.
All is ready for installation of a tankless water heater.
Luckily, we only need one vent stack going through the roof. Each pipe penetrating the roof means more opportunity for leaks, and damage from snow sliding.
This is going to be Napoleon gas insert fireplace. Right now it's just a framed hole with a propane line running to it.
We're hoping the pace of construction accelerates, now that we actually have a construction loan and can order the materials that we need and pay all the many different tradesmen and subcontractors.
