I am trying to purchase a garage parking spot. It is in the same complex as my condo, but I'm unable to finance it with the condo as a package for assorted reasons. Does anyone know if it is possible to get a mortgage on a parking space?
If so, any specifics (in particular, lenders who will do this in the Boston area) are greatly appreciated!Is it possible to finance / get a mortgage for a parking space?
You can only get a mortgage if you are actually buying the real estate. Wouldn't a parking space be part of the condo common area?Is it possible to finance / get a mortgage for a parking space?
I've only seen that done when it is purchased with the condo and included in one price. I don't think you can mortgage that separately.
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