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Is there a way to combine two properties into one mortgage? If so what happens if we sell one of them?

by tami_greene374 from Harrisburg, Pennsylvania. Jul 8th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

There are no conforming loan products which allow you to secure two properties into one loan.. If they did, then if you defaulted, which property do they foreclose on? Also, like you asked,,, if you wanted to sell one, you would need to pay off the entire loan.. There is a way to accomplish this, but you have to have sufficient equity for it to work.. so what you would do is apply for a cash out mortgage on one property, and take the proceeds and payoff the other property.. you end up with one property financed, and the other paid for.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714

Jul 8th 2015
Jason Bennett (jbennett)
#104 ranked lender in Pennsylvania - 70 contributions

That is called a "blanket mortgage" our company offers them from our regional bank in Pa. Unfortunately if your properties are located outside of Pa. I cannot help but a local or regional bank in your area may be able to offer you a blanket mortgage. In terms of selling one of the properties down the road that can be a little messy, but is possible.

Jul 9th 2015
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,006 contributions

Yes and no... The standard traditional mortgage products (Fannie Mae, Freddie Mac, FHA, VA, etc) do NOT allow for this. On the other hand, and bank can do that if they so desire. Try talking with a small credit union or small community bank.

Jul 9th 2015
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