Posted on: 15th Feb, 2011 03:19 pm
My fiance and I both own homes. We would like to buy a house together. We are willing to sell one of the homes. We are currently renting one and living in the other. We have been in touch with a mortgage broker who said that we were not able to apply for a third mortgage if the homes were within 50 miles of one another. What does this mean? And what is the best way to begin the process of applying for another mortgage and do we have a chance of approval?
Hi sarohrllc,
It will be better if you can sell off anyone of the properties and then apply for a new mortgage to buy a new property. You should list one of the properties in the market and check out if you can get buyers for it.
Thanks
It will be better if you can sell off anyone of the properties and then apply for a new mortgage to buy a new property. You should list one of the properties in the market and check out if you can get buyers for it.
Thanks