“Demand for Renovation Loans Continue to Grow”
Hi Joe- I just wanted to run some numbers by you to see if we are still on track for approval and also should I get the required docs at this point?
We need to pay off our current mortgage 206K to pay existing loan. We are getting bids around $200,000+/-
I understand we need to keep 5% equity in the home and we may need to add some of our funds to get close to the 200k. Hopefully the GC numbers will come in close.
These clients were referred by a local bank that doesn’t do renovation or construction loans. These are loan products that we have been doing for years.
They looked to purchase another home but couldn’t find what they wanted so their best option was to renovate their current home. They love where they live and once they complete the renovations they will finally have the home they have always wanted, a perfect combination.
“WHO ELSE DO YOU KNOW THAT NEEDS MY HELP?”
Image courtesy of StuartMiles/Freedigitalphotos.net
Subscribe to my blog via Email:
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
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.