Pwtr02ss home build

[NW-99SS]

Yeah different guys entirely, but what a cool experience you've had with Tom and Dick - very jealous, and I would do bad things for the Guldstrand GS90!

Mongoose Motorsports - Ravenna, Ohio

Mongoose has put together an elite team of builders, engineers, drivers and customer service representatives to ensure you get a top-notch product all of the way around.

mongoosemotorsports.com

 

[pwtr02ss]

I'm sure we have lots to share in terms of property, SUVs and cars!

My 99 I bought 26 years ago with just 3200 kms (Canadian car) on the odometer. WU8 SS car, M6, BBS Hurst equipped (though I replaced it with the Hurst Billet plus). Similar to you, it's a H/C build but mine is on a stock bottom end, so nothing crazy with any nitrous. Has a ton of UMI suspension, full Kooks stepped long tubes to their true dual setup, Wilwood brakes, etc. Built it for weekend canyon roads more than anything. Currently sits at under 38000 miles, and need to put my new to me PRC heads on it and BTR shaft rocker setup. Tons of other stuff like your signature, blah blah blah

I bought my car in 06 with ~26k miles. It's pewter, a4, only slp option was chrome zr1s. In 06, I added the slp grille, mats, air lid, eibach pro line springs, and some BMR stuff. 07 I blew it up on the nitrous. I bought an ls6 short block that had previously supported an f1 procharger. The cylinders were egg shaped, so I had the block max bored (3.098 I think). Eagle h-beam rods, coated bearings, tea 5.3 heads that Brian did himself (stage 3.5 or whatever he called them back then), livernois springs, tsp Texas giant cam, forged internals, and pro tank convertor. Afs 11" Zr1s on radials, that I sold in 09. Again, all of that was nearly 20 years ago.

I started messing with the car a couple years ago. Put 11s back on the car with radials. Koni adjustable rears with UMI springs, UMI adjustable panhard, and a few other things. I just got the front koni (yellow) and UMI front springs a few weeks ago. Need to install them.

With the help of @randeez I have a full racetronix fuel system and injectors. Again, need to install. Don't even say it, Randy...

Car is somewhere around 55k miles now. I hardly drive it anymore, def don't race it.

 

[THE YETI]

Back on topic. Or else!

 

[randeez]

Can do roller shots down his driveway pretty soon

 

[pwtr02ss]

Went out and hung our address sign, permit box, did gravel in the void at the hydrants, and hooked up some garden hose on the new reel we have. Stephs parents bought the hose real and hose for my birthday. I mentioned I was going to buy one, two days later they show up with it. Still need prob 200' more to reach the back side of the house. I think we're around 250' now.

 

[THE YETI]

Question about your home loan.. is this considered a "secondary home" as far as your loan process goes? And are they putting forth any contingencies that your primary home must be sold prior to closing on this one? Just curious since we are probably going to own both homes as well.

 

[pwtr02ss]

Question about your home loan.. is this considered a "secondary home" as far as your loan process goes? And are they putting forth any contingencies that your primary home must be sold prior to closing on this one? Just curious since we are probably going to own both homes as well.

Current house is not considered or tied up in the new house. We had enough cash to cover the reserves required. The land/new home combo appraised out more than the 80% loan value.

If we need additional funds, we can do a HELOC on the current home that we live in.

We went into this 100% debt free. Cash reserves were more than required. They like to see 20%.

They also said they could consider our retirement accounts if needed.

To answer your question, no, we don't have to sell our current home to build/close on the new one

Hope this helps

 

[THE YETI]

Current house is not considered or tied up in the new house. We had enough cash to cover the reserves required. The land/new home combo appraised out more than the 80% loan value.

If we need additional funds, we can do a HELOC on the current home that we live in.

We went into this 100% debt free. Cash reserves were more than required. They like to see 20%.

They also said they could consider our retirement accounts if needed.

To answer your question, no, we don't have to sell our current home to build/close on the new one

Hope this helps

Thank you. But is it considered a “second home” for loan purposes? Typically a bank will charge a higher rate if it’s not a primary residence. Just wonder if this was the case.

 

[Tonyv__]

Question about your home loan.. is this considered a "secondary home" as far as your loan process goes? And are they putting forth any contingencies that your primary home must be sold prior to closing on this one? Just curious since we are probably going to own both homes as well.

which one will be your primary after the lake house is built?

 

[pwtr02ss]

Thank you. But is it considered a “second home” for loan purposes? Typically a bank will charge a higher rate if it’s not a primary residence. Just wonder if this was the case.

We do not intend to keep both homes. Current house will be listed for sale once we move.

I think that would affect the conventional loan, so we haven't been asked those questions.

 

[THE YETI]

which one will be your primary after the lake house is built?

Florida will be our main residence. NC will be our lake house. Once our kids are through college and wife is closer to retirement is when I think we will make the changeover.

 

[mountie]

Florida will be our main residence. NC will be our lake house. Once our kids are through college and wife is closer to retirement is when I think we will make the changeover.

Currently, the State of Florida is in a process of either eliminating the primary home property taxes, or at least, deduct $250,000 off the home tax burden. ( Florida has a huge surplus )…...
Then to keep track of county / city funding, they will submit annual budgets with audits. Those dollars will come from the State directly.

 

[THE YETI]

Currently, the State of Florida is in a process of either eliminating the primary home property taxes, or at least, deduct $250,000 off the home tax burden. ( Florida has a huge surplus )…...
Then to keep track of county / city funding, they will submit annual budgets with audits. Those dollars will come from the State directly.

Yep. Well aware. Not keen on this at all.

 

[Tonyv__]

Florida will be our main residence. NC will be our lake house. Once our kids are through college and wife is closer to retirement is when I think we will make the changeover.

You may be subject to the “vacation” home interest rates then. Kind of the same category of investors. When shit hits the fan, you’ll ditch your vacation home before your primary. At least that’s what the bank thinks

However they’re may be some work around. For example if you have x amount of $ readily accessible. You may be financially stable enough that they’ll give you a better rate than the average “second home” borrower.

 

[THE YETI]

You may be subject to the “vacation” home interest rates then. Kind of the same category of investors. When shit hits the fan, you’ll ditch your vacation home before your primary. At least that’s what the bank thinks

However they’re may be some work around. For example if you have x amount of $ readily accessible. You may be financially stable enough that they’ll give you a better rate than the average “second home” borrower.

Primary home will be paid off.

We anticipate higher interest rate for a secondary home. That’s why I had asked about his rate. Because a bank doesn’t really care what your intentions are, if you own another home, Evyething else is considered a secondary “investment” home. And they’ll zing you for it.

If I tell them the new house will be my primary and I’m selling my first home, i can always change my mind after closing. Banks know this, and usually charge the higher rate regardless.

 

[Tonyv__]

Primary home will be paid off.

We anticipate higher interest rate for a secondary home. That’s why I had asked about his rate. Because a bank doesn’t really care what your intentions are, if you own another home, Evyething else is considered a secondary “investment” home. And they’ll zing you for it.

If I tell them the new house will be my primary and I’m selling my first home, i can always change my mind after closing. Banks know this, and usually charge the higher rate regardless.

Well prob not always because I’m currently house shopping myself and our bank is offering prime rates on this mortgage. We also don’t HAVE to sell our current house.

Idk if this is because I have some experience in rentals so they’ll allow me to keep it as a rental if I choose to. Idk. They have all my rental info because of the existing mortgages

My rentals are about 1% over prime so I get what you’re talking about.

 

[pwtr02ss]

So, windows are now officially ordered. I was scrolling through some pictures and randomly noticed how wide the bar was in between double hung windows. We changed the master and back bedroom to casement.

Luckily, he hadn't gotten around to submitting the order yet, so it was a 30 minute meeting to get everything straightened out. Also, Andersen has 10% off through the end of the month, so that was nice.

Still waiting on the screen price for the 4 panel slider. He wasn't super confident in it not being outrageous, but who knows. If it's stupid, we'll be going to something else.

 

[mountie]

So, windows are now officially ordered. I was scrolling through some pictures and randomly noticed how wide the bar was in between double hung windows. We changed the master and back bedroom to casement.

Luckily, he hadn't gotten around to submitting the order yet, so it was a 30 minute meeting to get everything straightened out. Also, Andersen has 10% off through the end of the month, so that was nice.

Still waiting on the screen price for the 4 panel slider. He wasn't super confident in it not being outrageous, but who knows. If it's stupid, we'll be going to something else.

Different types of screen mesh. Some types make for a clear view through the glass.

 

[pwtr02ss]

Different types of screen mesh. Some types make for a clear view through the glass.

This one is a 16' x 8' sliding screen. It's accordion style that's rides on a track.

 

[THE YETI]

Sounds exciting. Home building is fun.. right?