“Demand for Renovation Loans Continue to Grow”

“Demand for Renovation Loans Continue to Grow”





Hi Joe- I just wanted to run some numbers by you to see if we are still on track for approval and also should I get the required docs at this point?

We need to pay off our current mortgage 206K to pay existing loan. We are getting bids around $200,000+/-

I understand we need to keep 5% equity in the home and we may need to add some of our funds to get close to the 200k. Hopefully the GC numbers will come in close.



These clients were referred by a local bank that doesn’t do renovation or construction loans. These are loan products that we have been doing for years.


They looked to purchase another home but couldn’t find what they wanted so their best option was to renovate their current home. They love where they live and once they complete the renovations they will finally have the home they have always wanted, a perfect combination.




Image courtesy of StuartMiles/Freedigitalphotos.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



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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 • May 30 2018 01:06PM


Good morning, Joe Petrowsky we're seeing more of that here, too..... small construction companies are very busy now....and it's very competitive for them...

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) about 1 year ago

Sometimes this is the best option. Of course cash is the best but not available for most of the public.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) about 1 year ago