“Sorry, I Can’t Do a FHA Mortgage on a 6 Unit Apartment Building”

“Sorry, I Can’t Do a FHA Mortgage on a 6 Unit Apartment Building”

 

 

Hey Joe, hope you’re having a happy holiday. Really appreciate the reassurance of your positivity towards mortgages, thought there was no hope, but know better at this point. I'm just emailing you seeing what the terms are for financing on a 6 family house that is in East Windsor. I know back in 2014 a mortgage guy told me he could get me an FHA mortgage up to 6 units.

 

It is unfortunate that someone in our business would give a prospective buyer such bad information but unfortunately there is always bad information being repeated.

 

This client wants to buy a multifamily to live in and hopefully have his tenants pay his mortgage and literally live rent free. The other goal was to do a 15 year mortgage, just part of his retirement plan. We discussed a three or four family so I was a little surprised by his email. Hopefully, I will be able to guide him back onto the “Right Trac”.

 

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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

www.righttracfg.com

www.joepetrowsky.com

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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.

Comment balloon 27 commentsJoe Petrowsky • December 30 2015 06:36AM
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