http://www.youtube.com/watch?v=tdAm9OFEyDg Very inspirational video for a 325 sq. ft. apartment.
I've been getting a lot of support on my tiny house adventure from surprising sources. It's pretty cool.
We've had a lot of set-backs, and education in the apathy of the business world and how hard it really is to fulfill the American dream now-a-days. It's been amazing, overall, just how difficult it really is, and the challenge has really fired me up. I don't have a normal source of income from a stable job--I make my money as needed and budget it accordingly. Proving I am good with my money and that I have enough to afford a large plot of property is nearly impossible. They want you to have enough income so that your loan is 40-50% of your total income. Highly inaccurate and irresponsible principles, your shelter should cost 25% of your total take-home income, not half of it. If something happens and you need to defer a payment, the next month you're paying 80-100% of your income! No one in their right mind can afford that, so you end up paying 60% of your income for a year or more. Those principles are why people fall into debt so quickly and take so long to recover, meanwhile the companies and banks rake your money in like leaves in autumn.
Anyways, my particular problem is that my school money I m guaranteed from the military is not "stable" income, since I renew it each semester, so they refuse to count it. Also, my father paying me 'rent' for the property also does not count. Also, the active duty training I do once a year as per my requirements for the national guard does not count. Nor does my bonus coming up in April, and the other bonus in 3 years, both of which are under contract. My assets do not count. Basically, all of the income I earn does not count. If I don't have a corporate-like 9-to-5 job well established in a field I am currently trained and educated in, then they will not approve me for a home loan. The instability of my income is, understandably, troublesome to work with, and without a clear interview with me to prove my terms (an impossible endeavor that no longer helps with loans) there isn't much hope with our current situation. An issue I had no idea was such a massively huge deal.
But! We have some plans up our sleeves and we're not near done yet, so I'll keep ya'll posted on how things progress. For now though, we're hunkering down, fixing our budget, working on getting my parents debt free, and continuing to shop for the perfect plot of land for us.