Can you achieve a combined mortgage for 2 homes?
I have two homes and I would like to compensate off both homes and fix them up. I would like to return with a mortgage to cover both homes including funds to fix up the homes. Is this possible or not?
Answers:
You can not do this if the 2 homes are located on different Tax Assessor parcels. Not with a bank or average commercial lender.
Your only hope would be a private lender and that would cost you 17% interest..
Related Questions:
Secondary Mortgage For Home Owner?
I am being offered a secondary mortgage. The lender explained to me how the minor mortgage market works, and offered to combine my current first & second mortgage into one mortgage which will use the new property helpfulness. My new property value is in the region of 20% lower...
Answers:
You can not do this if the 2 homes are located on different Tax Assessor parcels. Not with a bank or average commercial lender.
Your only hope would be a private lender and that would cost you 17% interest..
Related Questions:
Secondary Mortgage For Home Owner?
I am being offered a secondary mortgage. The lender explained to me how the minor mortgage market works, and offered to combine my current first & second mortgage into one mortgage which will use the new property helpfulness. My new property value is in the region of 20% lower...