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Updated over 8 years ago,

User Stats

76
Posts
55
Votes
Adam P
  • Investor
  • Chicago, IL
55
Votes |
76
Posts

Conventional Loan Multiple Pins?

Adam P
  • Investor
  • Chicago, IL
Posted

I am looking at a property where the seller owns a 2 flat, along with the vacant lot next door.  He wants to sell both as a package.  The lot the building is on is a different pin to the lot next door

Is it possible to use conventional financing for 2 pins in a single loan?  I have used a single loan before to purchase a condo and parking space which were separate pins, but I am unsure on whether a vacant lot next door would have different rules.

I already have 6 financed properties, so this would be a 30% down investor conventional loan.  I am looking for what the Fannie Mae guidelines would be.