Lake Livingston Waterfronts (Huntsville, TX)
Lake Livingston Waterfronts (Huntsville, TX) Real Estate News
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FYI: Multiple Homes on One Mortgage Might Not Fly!
Joni Staples, Your Huntsville / Lake Livingston Area REALTORĀ® (Berkshire Hathaway Home Services - Anderson Properties)

 

FYI: Multiple Homes on One Mortgage Might Not Fly!

 

FYI: Multiple Homes on One Loan Might Not Fly!

 

I am excited to tell you that we have closed on the two homes located at 421 and 441 Riverwood Drive that I blogged about earlier. The larger of the two homes (441 Riverwood Drive) was built first. The smaller home (421 Riverwood Drive) was later added as a guest house.

 

 

When I listed these two properties. I originally had them listed on MLS as 2 separate properties so that buyers had a choice of just one -- or both.

 

 

As expected, the buyers wanted both properties and they wrote their offer on one contract.

 

Susan Bryant, from TMC Home Loans in Trinity, Texas had once told me that often times lenders do not like loans that have more than one home on them. So it came as no great surprise when that the underwriter had the buyers do separate loans on these properties.

 

To make a long story short, it all worked out just beautifully for these buyers... however... the purpose of this post is to inform you that multiple homes on one mortgage might not fly! Check with your lender to see how they would like for you to write it up. Had both homes been on the same lot, and with only one address, it might have been just fine. Again, check with the lender first.

 

FYI: Multiple Homes on One Mortgage Might Not Fly!

 

 

 

 

This has been brought to you by YOUR Huntsville / Lake Livingston Area real estate professional. Before you buy or sell, call Joni Staples at (936) 650-9017. I look forward to earning your business and exceeding your expectations. Broker Associate with Berkshire Hathaway Home Services - Anderson Properties. Mike Huff, Broker.

 

Joni Staples, Broker Associate BHGHRE-AP (936) 650-9017 Copyright (C) Joni Staples     (936) 650-9017  www.JoniStaples.com

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Licensed in the state of Texas (0518539)                         

 

  Joni@JoniStaples.com

 

      

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