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We spoke with CPB today. The LZ1 insurance requirements are not as bad as we have been led to believe by listening to others talk. While it is subject to verification, supposedly it will only be a very few hundred $/year more than other areas. It sounds like it will be less than the cost paying mortgage insurance. We'll see.
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Was a Democrat until gun control became a knee jerk, then a Republican until the crazies took over, back to being a nonpartisan again.
This time, I can no longer participate in the primary.
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Make sure your house is less than $350K. I noticed you mentioned mortgage insurance - I thought it was *nearly* impossible to get a mortgage in zone 1?
Puna: Our roosters crow first
Posts: 926
Threads: 131
Joined: Mar 2012
Per BoH and CPB, CPB is the only bank that will finance in LZ1 or 2. CPB says that it is no problem as far as they're concerned. They only require that ridiculous hurricane insurance. It has something to do with their working through Freddie Mac. Then as elsewhere, if you have your 20% down you do not need to worry about mortgage insurance. the only reason I mentioned it is because I have paid it, and am using it as a gauge to measure the cost. We do need to look into the insurance to be sure that we're talking about the same types of coverage. Why buy insurance if it only covers the lender?
Today is our last day here. We head back to Ak tomorrow. We'll do a bit of rubber-necking today and catch our flight tomorrow. Temps are forecast for the teens & 20's and up into the 30's with 50 to 80% chance of snow, and 25 to 30 mph winds, could be blizzard conditions and icy roads where I drive 200 miles a day for work. Not as bad as when we came back from Los Cabos a few years back. Temps were running down to -30*F, a very rude welcome back, wore my insulated coveralls and expedition grade long-johns for 2 weeks steady.
EDIT:
As we both are "retiring", we are capping our acquisition at $250k [or there abouts].
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Was a Democrat until gun control became a knee jerk, then a Republican until the crazies took over, back to being a nonpartisan again.
This time, I can no longer participate in the primary.
