“I Love these Puzzles”
Can you do a land loan for me? I want to buy 50 acres that abuts the home we currently own. The asking price for the land is $195,000 and basically has no frontage, but we have 800’ in front of it. The property has more value to us than anyone else. We have funds to put down on the property, but not enough to pay for the property.
My Realtor told me that if anyone can figure this out, you can.
We have owned our current home for a number of years and have a lot of equity.
Let me know when would be a good time for us to speak, my cell is 860 XXX-XXXX.
PS, looked you up on Linkedin, pretty impressive. Will send you a connection request.
Most lenders don’t have an appetite for this type of transaction, but it is definitely a loan that I can do. It would not be a land loan, however. It would involve refinancing the current residence, adding the acreage purchase and adding a down payment to the transaction to make the loan to value work.
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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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