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Robin Silverberg
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I have been in the mortgage business for over 10 years, and have seen the ups and downs, the busy times and the slow times. I have worked with first time
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Robin Silverberg answered:
Do you have any of your own money to put into the transaction? There may be someone still left who is willing to do a construction loan for you in the area, otherwise we have someone we work with who will give you a 5% second. The idea of doing an FHA cash-out is pointless to you because your original loan amount was $720,000 using your figures, and the maximum allowed on an FHA in our area is $729,750. Do you have any idea what the appraisal came in at on your house when you purchased it? I recently had an appraisal done on a house in Manhasset and earlier in the year there were fewer homes that closed, so fewer comps were available to use. Starting in July more started to close, so you could potentially get a higher appraisal now. Give me a call and we can talk about the details.
Robin Silverberg
Private Mortgage Banker
516-972-1687
Robin Silverberg
Private Mortgage Banker
516-972-1687
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