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Bought my house 2 years ago, with 0% down physician loan. now my neighbors house is for sale and I want the extra land. Neighbors lot has a house on it. Is there anyway for me to own both properties under one primary residence loan. Any best practices on purchase options with minimal down?
Do you plan to tear down the house? You can't count two houses as your primary residence, so I don't see how you could get a primary residence loan. Most investment loans require more of a down payment. You might inquire about potential Seller financing. Offer high enough interest and they might consider it--provided they own it free and clear and don't need a lump sum to buy something else.
Well, the physician's loan is a portfolio loan, so OP might go back to that lender and see if they could offer terms for the second house, too.
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