Two Homes On One Property: 7 Tips on Getting a Mortgage Under Uncommon Circumstances
Seven tips on getting a mortgage under uncommon circumstances will help you purchase two homes on one property. Purchasing a property with two homes may be a challenge when it comes time to get it financed. Since the value of a property is based on current prices of comparative homes on the market and sold homes, finding a comparable to compare to can be difficult with two homes on one property. Even appraisers find a property with two homes more difficult to valuate and if the property has outbuildings, even though they have value, may not be able to be included in the final valuation that will go to the lender.
2nd Mortgage: 12 Answers to the Questions You Should Be Asking
The 2nd mortgage is a complex, but very useful, real estate tool. The 2nd mortgage is a useful tool that can greatly extend the financial options of a person with equity in a piece of real estate. However, the responsibilities of this kind of a loan are equally as large. You must understand the risks and the advantages of the 2nd mortgage fully before committing yourself to it. Here are some answers to top questions that you should be asking.