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I currently live in NC.I have my primary house,and a vacation house that I owe 75k on.I want to relocate to AZ,thus selling my primary.I will be looking to finance approx 150k on the new AZ house.My question is, First,can I get a mortgage with that second 75k loan/property in another state and second,is it possible to role my NC 75k into the AZ 150k for a total of a 225k mortgage.We have 0ver 740 credit and are currently carrying a 370k mortgage between our two NC properties now.It seems if were carrying 370k now,225k should not be a problem.Any suggestions?
No, you cannot have two properties on one mortgage. No problem getting another mortgage in another state while keeping the current mortgage on the vacation home.
No, you cannot have two properties on one mortgage. No problem getting another mortgage in another state while keeping the current mortgage on the vacation home.
Great,my concern was getting a loan in my new state with that second house.Especially in todays climate,although I think the media may think it's tougher than it really is.My primary will likely sell quicker than a remote getaway place,so at least I can get to where I'm going while the secondary remains listed.
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My primary will likely sell quicker than a remote getaway place,so at least I can get to where I'm going while the secondary remains listed.
