After things fell thru with CountryWide, Tyler and I did a little more research and ran across Owner/Builder Finance. Owner/Builder Finance is run out of Michigan and specializes in working with owner/builders to secure financing for their construction projects. Basically, they tell you what you need to do to get a loan from a bank - in this case, IndyMac.

We have spent the last week revising our line item budget (LI with our advisor, Dave, at Owner/Builder. We finally finalized it last night around midnight. Dave sent the LIB to our loan officer at IndyMac to begin the loan process.

So, at the end of today the fun of financing a renovation project began again as I gave the IndyMac loan officer permission to setup another appraisal. Hopefully, being a little more seasoned now, Tyler and I will be able to avoid some of the appraisal pitfalls and get a loan just in time to begin construction on our house with the first snow fall.