money matters

I told myself that I wasn't going to be negative -- especially about any one company -- when it came to talking about all the hoops we've had to jump through in order to get our log home financed. But let me just say this: We've had a change of heart about a couple of banks recently. Some of the details are mentioned here.

Log home lending is different for some banks than taking out a mortgage for a tract house or other conventional housing structure. Knowing what avenues to take when seeking log home financing will make your goals of obtaining a mortgage for your log home an easier, happier journey.

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.