“Homes with Acreage, NOT a Problem!”

“Homes with Acreage, NOT a Problem!”

 

Mr. Petrowsky,

You name was given to me by my Realtor, she told me if you can’t help us get a mortgage no one can. Our Realtor got your name from the listing agent.

I will share with you I have spoken to three different lenders, unfortunately they could help so we are getting desperate. Here is the story.

We have a deposit on a home that is on 36 acres. The purchase price is $695,000 and our plan was to put $150,000 down. The basic issue is much of the value is in the land which is our priority, but each bank has said that an appraiser will not be able to give sufficient value to the land so they can’t help us with a mortgage. One of the banks said they would consider a $400,000 mortgage which we can’t do.

Can you really help us?

 

I am so fortunate to have to lenders that do homes with acreage for my clients, actually up to 160 acres. I always thought that more land as part of a transaction would be better, but for banks apparently not the case.  

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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 1 commentJoe Petrowsky • January 11 2021 12:46PM

Comments

Good morning Joe. Why I do not know but large parcels have been difficult to finance for the past 50 years or more. Congrats to you and your source. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 16 days ago

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