Designing / BuildingHome & Garden
One of the biggest hang-ups in the process of finding a bank to finance our log home was the 'draw schedule'. The draw schedule is that unique timeline that spells out exactly when the logs themselves will be paid for, when the next installment of payments will be doled out by the bank, etc. It became difficult to get the bank and the log home company to agree on when the actual money would exchange hands. Here's how it went for us.
We qualify for the loans, but there just aren't enough log homes that have been sold recently around here for the banks to use as 'comps' in order to determine a fair appraisal value for our proposed log home. They're coming in way lower than we can build this log home for. And the banks won't budge.
It's hard for me NOT to re-subscribe to the 3 log home magazines I've been subscribing to. I mean, we got so much great info from them during that first year of the subscription. But now, we're craving more than these magazines seem willing to provide. If you're contemplating resubscribing to a log home magazine, I'm here to tell you, you may want to check out This Old House magazine instead. Especially if you're already living in your log home... chances are, the log home magazines won't have much to offer you at all.
