Refinancing current home with a blanket for two

There is no conventional or FHA, VA, USDA product where you can finance 2 homes, on 2 different parcels, on one mortgage.. it will never happen because if you are behind on a mortgage payment, which home do they foreclose on?? Under most Hard Money or commercial lenders, they will do it, but only if they are investments, not primary residence.. However, if there is enough equity in your mother's house, she could do a cash out mortgage, and just pay cash for the other home.. You would have only one mortgage payment, and the other property would be unencumbered.. her value would have to be high enough that after refinancing and taking the cash out, she would need to be below 80% loan to value...I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

The short answer is, It Depends. The key issue will be whether the value of your mother's residence will support the amount of loan you need to buy the house across the street and payoff your mother's loan. The best way to determine that is to have a loan officer look at your unique circumstance to give you some ideas on the best path forward. I would certainly be willing to review it with you and help develop a plan. Please call me at 316-259-5862 and we can discuss it further. Thanks, Mike

You would need a non-institutional lender to do something like that...in other words a private lender.

You cannot cover 2 seperate properties under one mortgage. However, you can take the cash from one to buy the other.