“Ideal Candidate for FHA 203K”
Hi Joe, we are looking very seriously at this property and going to see it Thursday morning. Barring any wetlands issues, we see a lot of potential for very low cost. They are asking $84k and it is a foreclosure that’s been on the market for years. 10 acres with a barn. Depending on the state of things we are considering offering $75k and adding into the loan a septic system and siding. Does this seem reasonable, able to be financed. I would appreciate if you could call me today to discuss our options. The agent we are speaking with knows about FHA, but not the 203K.
The maximum loan limit for an FHA loan in the county where this home is located is $278,000. Well within the cost of the purchase and renovations.
So many clients have purchased properties that need renovations and profited handsomely, but it is not for everyone.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Email: joe@righttracfg.com
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.
