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.
Government Mortgages: Compare And Contrast To A Conventional Loan
A conventional loan is easier; a GSE loan is more convenient. In order to get the best deal on your home loan, you will most likely have to compare a conventional loan to the various government mortgages that you may be eligible for.