Can You Finance a House AND Include the Lot Beside It?

by Tim Hart | Dec 15, 2022 10:37:00 AM

I see this situation often. Seller is selling a house and they own the land beside or behind it. They want to include the land in the sale BUT the land is a separate parcel.
Can this all be financed with one mortgage, or does the lot have to be joined with the house on the same parcel?
The short answer is that as long as the lot is connected to the subject property you should be ok. If the lot is not connected to the subject property then you will not be able to include it in the new mortgage.
In this episode I answer that question and go into more detail on what will and won’t work.
Have you seen this issue blow up a deal? Just curious..
Have a rate day!

Born and raised in Southwest Florida, I have been in the Mortgage business since 2001 I'm a grizzly, battle tested mortgage veteran. I am also the Host of Rates & Reels, which is the most popular fishing show in Southwest Florida, hosted by a guy named Tim. In my spare time I love spending time with my family, coaching baseball, and anything else my kids or wife want me to do. I would be happy to help you or someone you know with any of your Mortgage needs.

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