Jumping through flaming hoops

I started my business in February of 2005. I went full time about a year and a half ago. Since then I have made significantly more money than I ever have before. I pay my taxes. I pay my bills. I contribute a good amount of money to the economy in general and also to my favorite charity, Apple.

I’m living the American dream.

So why do I have to jump through so many hoops to get a home loan? Our previous mortgage company, Coldwell Banker, was as good as any company can be. I love them. If you ever need a home loan, you should contact Cris.

We didn’t go with Colwell Banker, though. The builder of our house also has a mortgage and title company. They were able to do a little better on the interest rate since they own all the pieces of the pie. I should have remembered, you get what you pay for. The loan process has been a hassle and really not worth the savings. Three days from closing, and the mortgage company calls and wants to know if we can prove that moving won’t have an adverse effect on the business. Three days before closing. And how would you like us to prove that? “I don’t know,” the answer came back.

Wonderful.

All because I’m self employed. Never mind that we have a huge chunk of money to put down on the house and credit scores that would make your eyes bug out. You don’t get things like that by being stupid. If I thought there was even the slightest chance of my business imploding, do you really think I would move my family to another town and buy a new house? No, that would be stupid, which I’m not. And let’s not even go into the fact that the home we’ve chosen, while very nice, is very reasonable. It’s not like we’re trying to buy a mansion or anything. We’re trying to do things right.

So I sit here waiting to hear what form the “proof we won’t go broke” will take. Three days before closing and I really wish we’d stuck with the company we know and love.

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