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Do I need multiple loans for building 3 homes on a single proptery?

by seanq912 from Altonah, Utah. Nov 4th 2020 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

You will need to work closely with a Mortgage Lender licensed in the state you are planning on building in. There are unique requirements for what you plan to do. You also need to see if your local zoning will allow for three homes on the parcel. Often, only one home per lot is allowed, I don't believe Fannie Mae and Freddie Mac will purchase this loan, so you will be looking for non-confirming financing. If you are building three homes, you may find that you need to subdivide the parcel, so each home is on its own lot. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except VA and we're pending approval in MA and NY. ~ www.ApplyYes.com 480-889-9000.

Nov 4th 2020
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