What is a mortgage survey used to illustrate?

A mortgage survey is a specific type of survey that focuses on illustrating boundary lines and encroachments of the property. This survey provides essential information regarding the precise dimensions of the property boundaries, helping to ensure that the property being financed is accurately represented. It identifies not only the limits of the property but also any potential encroachments, which could include features such as fences, structures, or landscaping that may extend onto neighboring properties or vice versa. This information is crucial for lenders to ensure that there are no disputes regarding property boundaries that could affect the value of the mortgage or the financing agreement.

Understanding property boundaries and any encroachments is vital for both the lender and the homeowner, as it establishes clear legal ownership and can prevent future legal disputes. This is particularly important in real estate transactions to avoid complications that could arise from overlapping properties or misunderstandings about the limits of a property. Other options, like illustrating the interior layout of the home, neighborhood amenities, or the estimated value of the property, each serve different purposes and are not the primary focus of a mortgage survey.