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Mortgage Scenario : Question regarding purchase of existing home/ consolidation
Posted on 6/10/15 at 5:05 pm
Posted on 6/10/15 at 5:05 pm
Wife wants to sell current residence and purchase a friend's home ,currently unlisted (asking 200). I purchased a track of land 1.5 yrs ago and burned through a chunk of savings. I've got around 40k in equity on that tract. Can I buy the home and consolidate the land without money down? Credits strong (750-800). What kind of 15 yr rate could I expect under this scenario?
* Home is not attached to tract.
* Home is not attached to tract.
This post was edited on 6/10/15 at 5:55 pm
3
Posted on 6/11/15 at 8:53 am to rb
You won't get a single mortgage on both properties since the two are physically separate.
Posted on 6/11/15 at 2:47 pm to rb
only shot you have is if you are a big bank customer, and your bank does it for you in house.
I have seen it done, just not very often. Def not FNMA regulation.
I have seen it done, just not very often. Def not FNMA regulation.
Posted on 6/11/15 at 3:22 pm to rb
No there is no loan for this scenario.
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