“Cesspool vs Septic System”
Hi Joe, we found another interesting house which we are considering to bid upon. It is an antique house that has a cess pool which is functional. Is this an issue with getting financing from your company? It would be a problem with a bank mortgage.
I wish there was a simple answer to this question; it’s just not the case. Most lenders don’t like doing mortgages that have a cesspool, but we have gotten many approved. A lot has to do with the appraiser and how they view them.
More times than not these mortgages need to be done as a conventional loan. It is much more difficult when it comes to FHA, VA and USDA loans, but still possible.
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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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