After a couple of bumps and lots of phone calls, our final approval (well, at least at this stage) has been accepted and we are officially building a house.
A few days ago we got a call from our loan officer with a concern regarding our landlord approval. Yes, our *omitting unkind words* former landlords flat-out-lied in our rental report, stating that we were "Consistently 30 days late with rent." I was mad when I heard this. We were never late. Not even once. But we can't just go with our now-landlord's letter--they need 2 years history. We explained what had happened with the former landlords, and while she was sympathetic, our officer said she couldn't just take our word for it. So Cody, the wonderful man that he is, went into scramble-mode and began scouring our bank history for all the rent checks we wrote. Fortunately, he was able to find them all. He faxed those in and we went back to waiting and praying.
Today we got another call from the loan officer saying that the credit report had arrived and, much to our delight, our credit score is awesome and we are approved even without the landlord approval (but I'm still glad we had those checks and proved just how dedicated we are). Phew! After this great news, our officer informed us that this approval would be sufficient to start building. After the house is done, we'll close on the loan and start paying mortgage payments.
What a grand morning. This afternoon, though we did find out the one teensy bummer (though when we're talking about building a beautiful new home just for us, nothing can be counted a bummer!)--we didn't quite make the cutoff to start building in June. They told us previously we could be in that group, but I guess we were just a bit too slow or something. So now we're first in line to build in the next phase, which will start hopefully in July or August. This is good news, though, in that we get the first choice in house plans and lot location.
Doing a happy dance! From here on out, it's going to be hard work. We have some classes to attend, and we will get to pick our house plan and lot and colors and whatnot. And of course there's the building itself. But truly, we could not be happier.