Posts Tagged ‘construction loan’
Buying a Home that Needs Renovations
My realtor gave me your contact information, he showed us a home that needs extensive renovations. The bank that she normally works with doesn’t do any kind of renovation mortgages and they recommended calling you. You do these types of loans, correct? The asking price is $640,000 and has been on the market for quite…
Read MoreAvoid Mortgage Insurance on a Renovation with a Fannie Mae Homestyle Loan
Hey Joe, Tell me your thoughts. You know we have not been able to find a home that checked off all the boxes. We see a property that has our attention, however it needs some work. As you know we will be putting down about 25% down so doing an FHA 203K would require mortgage…
Read MoreCan You Get Us a Mortgage to have a Home Built?
“Mr. Petrowsky, We were given your name by our next-door neighbors. We have been home searching for over a year and haven’t been able to buy. Adam told us that you did a construction loan for them and they are a month away from their home being finished. I understand that he is having a…
Read MoreWe Want to Build a 3 Bedroom—2 Bath House
Forget all the stories about needing a large down payment to build your dream house, would a new home be in your future? We have every imaginable new construction product available! Is it time for us to carry on a conversation??
Read MoreLet’s Take Matters into Our Own Hands!
It is so tiring reading article after article about the lack of newly built homes and lack of financing (New-home sales plummet to lowest rate since 2016). Financing is available for new construction – for both builders and the general public. New construction loans are available for individuals that want to build their own home. Construction…
Read MoreVA, FHA, USDA and Conventional New Construction Mortgages Available
We have had conventional new construction loans for some time, but have just added VA, FHA and USDA. These mortgages are a true construction to permanent “one time close”. Get this, VA & USDA mortgages can be done with NO Money down, FHA requires 3.5% down and conventional requires 5% down. If you are someone…
Read MoreIs It Time to Build Your Dream Home or Renovation?
After two years of steady increases, lumber prices are retrenching and becoming somewhat normal. The current inflation rate has continued to hurt lumber and other construction material costs. “Last Friday, lumber prices in the U.S. dropped below $500 per thousand board feet for the first time in nearly a year. That marked a 67 percent…
Read MoreCan You Do a Home Equity Line of Credit for Us?
“Greetings Joe, Hope you are doing well. You did our mortgage 4 years ago and got us a fantastic rate, which we don’t want to give up. We want to do some home improvements and pay off one credit card. Was wondering, can you do a home equity line of credit for us? If…
Read More
