Yes I am starting from the ground up, but I believe that doing this type of work shows one is serious and that they're willing to commit to the sweat equity that will be needed later on, too.I'm also talking about my current desires and steps toward them with friends and family.

They do not legally have to show you on your loan commitment that this is how they calculate it, they only have to show you on your loan calculation which normally you only get the day before your closing.

Before you sign the paperwork for the HELOC commit to using the line of credit and know your terms.

I know they pay to be members and thus get the right to participate but what about learning about their rules BEFORE making a commitment to buy in?   

Went under contract for higher than I was comfortable with but backed out during the option period due to second thoughts about the foundation and the financial commitment.

We are willing to put in money to this deal to show our commitment to this project and partnership.

Not a easy transition unless you are both committed to change.

The language for the loan approval in the contract basically just says the buyer has to make a good faith effort to obtain the loan commitment within 45 days of the contract or 5 days before losing, whichever is earlier.

Big picture, don't over-commit yourself on your first deal and you'll have a great ride! 

(Actually this is good news for us as rental accommodation providers)They are staying longer their parents and latest stats are pretty telling We are facing a generation of “pay as you go” ( No loans, ties or long term commitments)- Amazon prime and Netflix (instead cable) - CoOp vehicles / sharing (instead loans or leases)- House and vacation home sharingI see this new reality as an opportunity, but what’s your take on it ?