Believe Update

The appraisal is in and more favorable but it's still not giving us a 60/40 LTV ratio. We requested a revision to what came back a few weeks ago because the appraisal left off almost 700 sq. ft. We haven't heard the final revised property appraisal based on the new construction. However the bank is still going to review our loan request. They will consider our loan even though we are needing to borrow a little more than 60% of the value.

We've had two dates come and go without the loan being presented but now we are told it will happen in the morning. This is a God Sized Ask! We are seeking to receive a loan of nearly 4 times what we received last year in our general giving and Believe giving combined. If we get approved, the design will need to have construction documents developed (This should take a few weeks) and then it will go back out to bid (about 3 weeks).

I've spoken with a couple of General Contractors and it seems like there are many who are in our situation. The funding is taking an extremely long time. This is a very cautious time for lenders. Crosspoint's nearly 8 years of history shows growth, growth and more growth. It has been a rewarding journey and I look forward to what the decades ahead have in store.


Below you will find our latest building design. It's still subject to change but I wanted you to be able to review it.