Friend A is buying a house. It is 2 parcel numbers. One with the house on it and the other is a vacant lot which at this point looks like a “side yard”.
Friend B who is a loan processor for a mortgage company is telling me it is hard to get conventional mortgages approved when there are multiple lot numbers. Does anyone have any experience with this and can tell me whether the loan is likely to be denied during underwriting? Friend A is worried because although contract was signed before 4/30 he is worried this may interfere with closing before 6/30 for the first time homebuyer credit.
It does appear from county records that the two parcels have always been sold together, although I do not have a parcel map which would indicate if this is soley because the house is effectively partially built on parcel 2.
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