“Renovation Mortgages More Common”

     “Renovation Mortgages More Common”

 

 

 

 

Joe,

Kelly and Keri checking in.  We have decided to stay in our current home and want to make some changes. A couple of months back you spoke about a renovation loan so that we can create an addition and other renovation. I would like to know how much we qualify for now so that we can have an idea of what we can do.  Hope all is well.

Respectfully, Kelly

 

 

 

I did 23 mortgages in the month of March, just over half of them had a renovation component. This is definitely a trend, but why?

 

Like Kelly and Keri, they were looking to purchase another home but just could not find what they wanted.  Many can’t find what they want and are choosing to stay where they are and upgrade their current home. These clients love their current location and neighbors and have decided if they can accomplish the renovation they want, that would be their best solution.

 

 Image courtesy of Tiramistudio/freedigitalphotoe.net

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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 2 commentsJoe Petrowsky • April 10 2018 02:27PM

Comments

Interesting to see that over half of your business has included renovation funding. That's definitely an option if home owners love their location but need more out of their home.

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) 6 months ago

With the inventory shortage driving up prices the idea of upgrading is very desirable.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 6 months ago

Participate