“Jumbo Construction Loans”

 “Jumbo Construction Loans”

 

 

 

 

Dear Mr. Petrowsky

My builder suggested I contact you regarding a construction loan. I have previously interacted with three local banks in my area, but none of them are interested in doing a construction loan that is over 1 million dollars. It is not because of credit or income, but rather they indicated there are no comparable homes that are being constructed in this price range. Is this something that you can do for me?

 

 

It seems like banks are becoming more conservative, rather than less. One of these banks referred another client to me in 2019 and were so delighted as they are not willing to do the larger construction loans.

 

I of course loved to handle the Jumbo construction loan and any others that come my way.

 

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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 • February 14 2020 02:18PM

Comments

Good morning Joe. The advantage of a mortgage broker is their sources of funding and sometimes out of the box thinking. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 1 month ago

Banks have flashbacks from the past.... those were tough days for financial institutions.... real estate agents in my office made a bundle!

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

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