Joe Petrowsky's Blog

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Mortgage and Lending - Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - NMLS # 6869
“Good morning, JoeWe have been contemplating the idea of a multifamily in Hartford (4+ units) with prices ranging between $450,000 – $800,000 We currently have a tenant with Section 8 privileges and would like to explore that option in Hartford. The last time we spoke on the phone, based on our ...
The real estate market in China has been in serious trouble for some time. Depending on how serious the situation gets, it will most likely have a big effect on the US bond market, which will affect our interest rates.This article will give you a lot more insight into China’s overall economy and ...
“Hi Joe,Our neighbor that lives next to us shared with us that you had assisted them with their credit and a now you are doing their mortgage. We want to buy as well! My wife and I have very good income and also a lot of credit card debt. My mid credit score is 584 and my wife has a 601.   The s...
“Blacks denied mortgage loans twice as often as others”Why are so many loans being denied?I recently had lunch with a branch manager that is with a big box bank. He made a statement that blew me away; he told me that his bank denies 41% of their mortgage applications. I didn’t get into the breakd...
“The Afghan Quarterback”The coach had put together the perfect team for the Chicago Bears. The only thing that was missing was a good quarterback. He had scouted all the colleges and even the Canadian and European Leagues, but he couldn’t find a ringer who could ensure a Super Bowl win. Then one ...
“Hi Joe,You are a life saver. We must have been one of your first callers after reading you were now doing home equity lines of credit. We paid our daughter’s college tuition and we decided to pay off a credit card off and the balance of my car loan. What a weight off our shoulders. Thank you for...
 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...
 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 yo...
A father passing by his son's bedroom noticed the room unusually clean and saw an envelope propped up prominently on the pillow. It was addressed, “Dad.” With the worst premonition, he opened the envelope and read the letter, with trembling hands. Dear, Dad. It is with great regret and sorrow tha...
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 n...

Joe Petrowsky

Your Mortgage Consultant for Life
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