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Is it possible to apply for a third mortgage within 50 miles of our current homes?

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sarohrllc Joined: 15 Feb 2011 Posts: 1 1.00 Dollars($)	Posted: Tue Feb 15, 2011 4:19 pm    Post subject: Is it possible to apply for a third mortgage within 50 miles Like 0 Dislike 0 My fiance and I both own homes. We would like to buy a house together. We are willing to sell one of the homes. We are currently renting one and living in the other. We have been in touch with a mortgage broker who said that we were not able to apply for a third mortgage if the homes were within 50 miles of one another. What does this mean? And what is the best way to begin the process of applying for another mortgage and do we have a chance of approval?
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Feb 15, 2011 8:10 pm    Post subject: Like 0 Dislike 0 Hi sarohrllc, It will be better if you can sell off anyone of the properties and then apply for a new mortgage to buy a new property. You should list one of the properties in the market and check out if you can get buyers for it. Thanks

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