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Yes. It is possible to have a mortgage and get a second mortgage on the same property. In some cases there are more than two mortgages on a single property.

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Q: Can you have two mortgages for one property?
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Related questions

Can one person have two mortgages?

Yes. Many people do, especially if they have let property.


Where can one find more information about obtaining mortgages for a rental property?

One can find information about obtaining mortgages for a rental property on various websites like HomeGuides and Realtor. One could also visit a local bank and ask for information about obtaining mortgages for a rental property int here.


If you have two mortgages can you pay one and not the other?

There will be serious consequences. The lender you don't pay has the right to take possession of the property by foreclosure.


Can you refinance two mortgages on one property?

Yes you can. But when you refinance your 2nd mortgage you have to inform your 1st lender and 2nd lender both.


I'm looking to refinance investment property and take cash out. Could you tell what the requirements are for investment property. Thank You?

Eligible Property Types 1- to 4-unit investment property Properties that meet the definition of Condominium Hotels per Guide Sections 42.3 and 42.10 are not eligible Eligible Mortgages If the subject property is the borrower�??s only financed investment property: 15-, 20-, and 30-year fixed-rate mortgages 5- and 7-year balloon/reset mortgages Most standard ARMs A-minus Mortgages If the borrower owns more than one financed investment property: 15-, 20-, and 30-year fixed-rate mortgages 7/1 or 10/1 CMT- and LIBOR-indexed ARMs 7/6-month or 10/6-month LIBOR-indexed ARMs Super conforming mortgages. See Guide Chapter L33 for requirements. Ineligible Mortgages The following mortgages are not eligible for delivery as investment property mortgages: Mortgages with temporary subsidy buydowns Home Possible?? Mortgages Initial Interest?? Mortgages Alt 97?? Mortgages Affordable Merit Rate?? Mortgages Streamlined Refinance Mortgages Seller-Owned Modified Mortgages A-minus Mortgages, when the borrower


What is the significance of a reverse mortgage?

Reverse mortgages, unlike ordinary mortgages, enables one to borrow money against the value of his or her property. In this case, repayment of this mortgage is only necessary when the property is sold, or should the property owner pass away.


Where can one find tips on buying French property mortgages?

Tips for buying French property mortgages can be found different places. First, a person must realize that property in France, especially Paris is extremely expensive. You can contact a real estate office for information.


If there are two mortgages first one larger than the second one an the first one gets enough to cover their loan what happens to the second loan can they take other property you have like land?

What was the question again?


What types of mortgages are available?

Buy-to-let mortgages are available for people wanting to make a rental income from property. There are also commercial mortgages available for people wanting to purchase a property which will house a business. Normally these mortgages are for properties valued from Σ10,000 to Σ1 million and can be for property such as hotels, restaurants, petrol stations etc. These mortgages will still contain your usual rate offers of fixed rates and tracker mortgages amongst others.


What types of business mortgages are available?

Buy-to-let mortgages are available for people wanting to make a rental income from property. There are also commercial mortgages available for people wanting to purchase a property which will house a business. Normally these mortgages are for properties valued from Σ10,000 to Σ1 million and can be for property such as hotels, restaurants, petrol stations etc. These mortgages will still contain your usual rate offers of fixed rates and tracker mortgages amongst others.


What is the use of a consolidate mortgage?

A consolidated mortgage is used to combine two or more outstanding mortgages. The mortgages may or may not be the same property. Sometimes a consolidated mortgage results in lower interest rates.


Do you have to get a mortgage to buy a house?

No. If you have the cash to pay for the property you do not need to obtain a mortgage. Mortgages are for people who do not have the cash on hand to buy real property.No. If you have the cash to pay for the property you do not need to obtain a mortgage. Mortgages are for people who do not have the cash on hand to buy real property.No. If you have the cash to pay for the property you do not need to obtain a mortgage. Mortgages are for people who do not have the cash on hand to buy real property.No. If you have the cash to pay for the property you do not need to obtain a mortgage. Mortgages are for people who do not have the cash on hand to buy real property.