A good friend and I are thinking about buying some acreage together, but I'm not sure if lending companies give mortgages for multiple parties, even with nice down payments. Anyone know?Can a friend and I get a mortgage together?
Yes you can get a loan together. Do not use a broker though. They charge MUCH more than a local bank or mortgage company.Can a friend and I get a mortgage together?
you'd do better to organize a partnership or LLC and then have it buy the land.
you'll find that mortgages on land that isn't being productively used aren't easy to get. From a banker's viewpoint, the market into which he could sell the land is unknown and certainly not within a short time period.
I think you'd be lucky to get a 50% mortgage based on comparable sales value and you'll have to pay for the appraisal.
Yes, you can.
No, you shouldn't.
sure can in australia its co ownership but you have to apply for separe loans but for the one property
get a morgage broker forget the bank to many hassles to go through.
if one goes bankrupt you both loose
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