Property eligibility

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  • #72402
    MLema
    Participant

    Will NACA approve property with two separate but adjoining lots being sold together with home on one of the lots?

    #72405
    TTrumble
    Member

    Hello MLema,

    You may only buy one property with the NACA loan, and may not buy empty land. Therefore, the current owner is no doubt have to have the two lots redesignated as a single lot by the county in which they are located.

    There will have to be a redesignation by your local tax assessor and possible reassessment of the property tax value. Plus there is a small possibility local zoning restrictions may come into play, but barring any unforeseen restrictions, it shouldn’t be that much work to get it declared a single lot.

    Tim Trumble
    Online Operations, NACA

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