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Updated over 6 years ago on . Most recent reply

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Will Spence
  • Boston, MA
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Financing Question- Mortgage Too Small?

Will Spence
  • Boston, MA
Posted

Hi BP, 

I'm looking to purchase 1 or 2 condos in the same building; however, the mortgage is probably not big enough to qualify for a loan through most banks/credit unions (under $50k per unit). The 2 condos together definitely would meet most minimum thresholds, but I was told by 2 credit unions that each unit would need a separate mortgage (no blankets) which brings me back to my original problem. Has anyone run into this issue before, and if so, how did you solve it? 

Thanks for the help,

Will

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