Yesterday I got a message on my voice mail at home from Mark, the loan consultant with Circle Bank in Novato (in Marin county), the lender chosen to finance our condo/TIC unit. He had a few questions about the loan application. Nothing earth shattering.
I called Mark back this morning. He thought it was great that my family is funding most of the down payment. I agreed. Without my family, none of this would be happening. He closed the call telling me that our chances are pretty good that we’ll be able to qualify for the best loan option available for the condo, a 5-year fixed rate with 30-year amortization.
We should have an answer in the next week or so. In the meantime, we still have to wait on when 2 more units will be sold.