“Can you do a Construction Loan for a Duplex?”

“Can you do a Construction Loan for a Duplex?” 

 

 

Hi Joe, I have a customer who is looking to do a construction loan for a duplex, is that something you would be able to help with? I gave him your number so he could reach out but wanted to give you a heads up.  The customer’s name is XXXXXXXX XXXXXXX and the purchase price is for 410k. I believe he will be putting 30% down on the purchase price.

Thanks Robert

 

Not something that is presented to me very often, but yes we have two different lenders that will do a construction loan for a duplex. Always glad to be the go to mortgage broker when banks can’t do a mortgage for a customer.

 

These construction loans can be done as a conventional mortgage and mortgage insurance can be avoided, but they can also be done as FHA or VA loans.

 

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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 5 comments • Joe Petrowsky • January 08 2018 07:56PM

Comments

Good morning Joe. So nice to know. Not an easy loan to do. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) almost 3 years ago

That hasn't come up in my business yet, but it's great to know this is possible.

Posted by Kat Palmiotti, The House Kat (406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty) almost 3 years ago

Good morning, Joe Petrowsky new construction is going strong.... and I'm sure you'll be seeing more of this type of request...

Posted by Barbara Todaro, Previously Affiliated with The Todaro Team (RE/MAX Executive Realty - Retired ) almost 3 years ago

Glad to know about this. We are building a lot of new duplexes in Oklahoma City.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) almost 3 years ago

Joe, can you give me a call about this? My cell is 586-917-5534.

Posted by Jerry Thomas-Construction Loans, Construction Loans in MI, OH, VA, GA, FL and AL (Cranbrook Loans) about 1 year ago

Participate