if you can get the loan. We were preapproved for a home loan in Feb. construction was to start in May due to ground conditions. Covid hit, banks raised their requirements thru the roof, we have mid 700 credit scores and about a 30 percent downpayment and still can’t get approved for a construction loan. We’ve heard every excuse in the book and been told to do this and that, which we did and we got nothing. I’ve been thru More than 2 dozen banks. Same story, credit scores are good, debt to income is great, payment history is great. The hang up is a mystery. And when you press them, they resort back to Covid as an excuse. Honestly, I think what happened is interest rates plummeted during this and millions refinanced and the banks are cash strapped. I really think that’s what it is. I did have one mortgage officer tell me their bank was out of money for new construction after shifting it all to refinances. So that’s where I get that notion.
I started last year. I don’t get the March, only active duty or those on that new Blended retirement program, the one where you give up your pension but get a 401k that follows you even if you don’t do twenty years. Obama changed that in 2010.