“Construction Loans for Multifamily Homes”
Hi! I found your information from blogs online while researching "duplex construction loans" which has been a complete hassle for someone such as myself who intends to reside in one of the units. I must have talked to over 30 financial institutions at this point but figured I'd see what your knowledge is.
Those that I have found that do provide construction loans only do so for single family homes. Those that allow the purchase of a duplex requires the duplex to already be built so none of these rules work for me. I have found hard money lenders but they require upwards of 30% down which is not doable for me. Thanks much in advance for any info you can share.
I am asked this question so many times. YES, I can do construction loans for multifamily homes. There continues to be a trend in this country for folks that want to live in one unit and have family living in the other units or rent them out for additional income.
The interesting thing is my greatest resource of referrals for these clients that want to build a multifamily are the banks and credit unions, as the greatest majority just don’t do them.
I can do these loans in CT, MA, RI, ME, VT, NH, NY and FL.
“Who else do you know that needs my help?”
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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
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.
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