FYI: Multiple Homes on One Mortgage Might Not Fly!

Real Estate Agent with 101 Main St. Realty 518539


FYI: Multiple Homes on One Mortgage Might Not Fly!


FYI: Multiple Homes on One Loan Might Not Fly!


I am excited to tell you that we have closed on the two homes located at 421 and 441 Riverwood Drive that I blogged about earlier. The larger of the two homes (441 Riverwood Drive) was built first. The smaller home (421 Riverwood Drive) was later added as a guest house.



When I listed these two properties. I originally had them listed on MLS as 2 separate properties so that buyers had a choice of just one -- or both.



As expected, the buyers wanted both properties and they wrote their offer on one contract.


Susan Bryant, from TMC Home Loans in Trinity, Texas had once told me that often times lenders do not like loans that have more than one home on them. So it came as no great surprise when that the underwriter had the buyers do separate loans on these properties.


To make a long story short, it all worked out just beautifully for these buyers... however... the purpose of this post is to inform you that multiple homes on one mortgage might not fly! Check with your lender to see how they would like for you to write it up. Had both homes been on the same lot, and with only one address, it might have been just fine. Again, check with the lender first.


FYI: Multiple Homes on One Mortgage Might Not Fly!





Comments (18)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good evening Joni,  Nice to hear about the 2 properties.  It is always interesting what we run into in our business.

Aug 01, 2014 12:14 PM
Roy Kelley
Retired - Gaithersburg, MD

Congratulations on your successful transactions.

Separate mortgages are usually the best solution.

Aug 01, 2014 10:22 PM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Joni, Congrats and I am not sure how you did this but it does not suprise me at all. If there is a way Joni will find it! great job.. 

Aug 02, 2014 12:26 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Gald to know this Joni. That scenario hasn't come up in my years in the business. I am sure with underwriting being so tight it wouldn't work today either.

Aug 03, 2014 01:52 AM
Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Joni, just curious about the they have separate parcel numbers?  I've not had this problem as long as both were on the same lot or under the same Tax ID.

Aug 03, 2014 07:05 AM
Yolanda Cordova-Gilbert
Richmond, TX


 Just stopped by to say hi and hope all is well in your world!

Aug 03, 2014 10:30 AM
Ricki Eichler McCallum
CastNet Realty - Corpus Christi, TX
Broker,GRI,ABR, e-Pro, TAHS

Hi Joni,  this is very good inforamtion to know. Thanks, :)

Aug 04, 2014 12:47 AM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Hi Joni, 

I just wanted to check in with you and ask how your Mom is doing as I did see her on face Book? I hope all is well with you folks. 

Aug 05, 2014 06:56 AM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Contact Joni Staples at  (936) 650-9017 for all your Huntsville, Texas Real Estate needs.

Aug 06, 2014 05:59 AM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Joni Staples I can understand without a doubt the odds of finding a lender dumb enough to put two homes on one mortgagae is very limited

Aug 06, 2014 06:30 AM
Kristin Hamilton CA REALTOR
Berkshire Hathaway California Realty - Beaumont, CA
(909) 557-6966- Specialize 55+ Communties Banning

Hi Joanie,

This is very good information for all of us. Those darn underwriters sometimes ruin deals so we must be flexible to get it done.

Aug 09, 2014 01:46 PM
Yolanda Cordova-Gilbert
Richmond, TX


      Just stopped by and those by the way are beautiful homes!

Aug 12, 2014 07:51 AM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

You're on a great streak.  Keep up the good work and keep on selling.

Aug 17, 2014 07:07 PM
Christopher Lotte
Red 1 Realty - Lithopolis, OH
Central Ohio Real Estate Agent, 614-390-9243

Hello ,

wow! that is a really nice decor, nice house...

thanks for sharing...:)

have agreat day.

Aug 19, 2014 03:50 AM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

That home is so pretty. I can see you been burning the midnight oil with all the blog posts concerning listings!  I was hoping you would do a Meet Up in your area so I could come.

Oh well maybe next year.

Aug 24, 2014 04:53 AM
Roy Kelley
Retired - Gaithersburg, MD

I was looking for your current blogs. I hope you have enjoyed a great summer.

Aug 28, 2014 10:49 PM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

Hey girl friend time to post again!

Sep 07, 2014 10:20 AM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Roy and Sussie: Just did! I know! I am trying to get back into blogging. HA!!


Sep 12, 2014 06:07 AM