This is a YouTube video titled "Multiple Parcels" containing a single-speaker explanation about financing options for properties with multiple parcels, focusing on FHA Virginia loans and the complications when multiple addresses or dwellings are involved. The content was created on July 30, 2023.
If you have a property that has multiple parcels, it can get a little tricky or confusing on how to organize everything. But as long as there's only one dwelling, one address for the parcels, you're okay. You can do normal, conventional FHA Virginia financing. The main thing where it gets confusing is if there's different properties, different addresses, different dwellings, well, then that's a little bit tricky deal. You can't buy two addresses with one traditional loan. That would be more of like a blankets type loan, which is a non qm. Higher rate, higher down payment. But as long as there's one address, multiple parcels, parcels, as long as they're touching, that's totally fine. You can add the other parcel in. Now, the appraisal value only comes off that main parcel with the dwelling, but you can throw the other one in. Still do a normal financing.
