Finding Money

ConstructionMoneyPerhaps you have a rich aunt Myrtle who died and left you all her money just to spite your cousins… Or perhaps you live in an area that lets you dig your earth sheltered home slowly as you find money?  Maybe you are going to build an earth sheltered home for only 50$?  Or perhaps your plan is just to save up and build in your golden years…  I can’t comment much on those plans.

But if you plan to get a construction mortgage, maybe this page will help…


(Note: this is a placeholder as I am learning some valuable lessons the hard way.  Once things are all sorted, I will come back and add some details)

Insurance and appraisal

One of the requirements for closing on the loan is to get the home insured.  This is the same policy that will eventually become my regular home insurance, but in the mean time, it also provides coverage as we build, including coverage for onsite injuries and theft of tools or materials.  It is reasonable for the bank, who is paying for most of the project, to want us to insure the site and the house afterwards.  It was our insurance agent who was being unreasonable…

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