Lost Parent Diary

Sorry I’ve been a bit quiet for this past week. The last post ended on a pessimistic note and not without reason. We were denied the loan from the other bank for the same ambiguous reason: “credit scoring”. I shouldn’t really call it another bank, they are owned by the same corporation. So, it’s logical that if one says no, the other will, too.

Little things add up

Now we are reapplying to one bank… the one and only that we can; it’s the only one that fits our needs. It seems that a bunch of little things have added up to a lot of little things. For example, some banks frown on certain complications that have arisen as a result of my dual citizenship. Others won’t accept K Honey’s earning as full because she’s been on sick leave since the pregnancy started. Others won’t look at my company because I’ve been registered for less than 2 years (I’m 5 months away). Lastly, some look at this mysterious credit scoring while other’s don’t. All in all, this has left us with one hope!

Positive thinking

It seems that we are doing everything now: baby, house, job change. Both K Honey and I are very happy to have these changes happening, but we are certainly being tried in the process. This experience has reminded me that so much of life is timing. For example, had I not sent my CV on a whim and made a phone call when I did, I wouldn’t have the new job I have (more on that in a future post!). Had an a-hole of an architect not sat on his butt for two months, we would have had that much extra time to take care of the building permit and been ahead of the game on getting the house. Finally, and this one bugs me the most, had my company been five months older, our financial rating would have been an “A” not a “C” and we’d have at least two or three more options.

Plan B

We hope to build the house this year still: paying a mortgage, even one on less-than-ideal terms is better than paying rent to a landlord. We plan on refinancing within a year or two, when a) K Honey is back to full working status, b) my company is more than two years old and c) during the banking off-season, usually in the winter (not many people buy houses or land in the middle of the winter, so there’s less competition for loans… I hope to get a better deal then).

If you don’t get the loan this time around (knock on wood), we will apply in March when K Honey is back to work and my company is over 24 months old. This isn’t ideal, but our path is clear and we have a plan.

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