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.
How To Get A Mortgage If You’re Not A US Citizen
If you were born outside the US and want to become a homeowner, here’s what challenges to expect and how to overcome them. Citizenship is not necessary to purchase property nor is it necessary to qualify for a home loan. However, getting a loan if you aren’t a “traditional borrower” can prove to be difficult. Here are a few difficulties you may face when trying to find a mortgage loan as an non-citizen, and what to do.