When you’re buying property and paying for that property with a mortgage, your lender needs to know exactly what they’re financing.
That’s where a mortgage survey comes in.
Lenders use mortgage surveys to verify the property boundaries, confirm that structures are where they’re supposed to be, and identify any issues that could affect the property’s value or marketability.
A mortgage survey protects both you and the lender. It shows what you’re buying, confirms that improvements are on the property they’re supposed to be on, and identifies potential problems before closing.
At Aerial Land Surveying, we provide mortgage surveys throughout Long Island and downstate New York using both ground-based and aerial technology. We deliver accurate surveys that meet lender requirements and help your real estate transaction close on time. Reach out today if you’re in need of a mortgage survey.
What a Mortgage Survey Shows
A mortgage survey provides detailed information about the property you’re buying. The survey includes measurements and documentation that lenders need to approve your loan.
Mortgage surveys typically show:
- Property Boundaries – The exact location of the property lines with dimensions and bearings. This confirms that the lot size and shape match what’s described in the deed.
- Structures and Improvements – All buildings, additions, garages, sheds, decks, patios, driveways, pools, and other permanent improvements. The survey shows where these structures sit relative to the property lines.
- Setback Measurements – The distance from structures to each property line. Lenders need this information to confirm that buildings comply with local zoning setback requirements.
- Easements – Rights of way for utilities, shared driveways, access routes, or other purposes. Easements affect how you can use the property, and lenders need to know where they’re located.
- Encroachments – Any structure or improvement that crosses the property line. This could be something from your property extending onto a neighbor’s land, or something from a neighbor’s property crossing onto yours.
- Right-of-Way – Public or private roads, driveways, or access routes that cross or border the property.
- Physical Features – Depending on the property, the survey might show fences, walls, water features, significant trees, or other physical features that affect boundaries or use.
The survey is drawn to scale and includes a certification from the licensed surveyor. This certification states that the surveyor has measured the property and the information shown on the survey is accurate based on their professional work.
Why Lenders Require Mortgage Surveys
Mortgage lenders are making a significant investment in your property. They need to verify that what you’re buying matches what’s described in the loan documents and that there aren’t problems that could affect the property’s value.
Surveys:
- Confirm property boundaries. The deed describes the property in legal terms, but that description doesn’t always match reality on the ground. A survey verifies that the property you’re buying is actually the size and shape described in the deed.
- Identify encroachments. If your garage sits partially on the neighbor’s property, that’s a problem. The lender can’t use that portion of the structure as collateral because you don’t technically own it. Encroachments need to be resolved before closing or addressed through easement agreements.
- Reveal zoning compliance issues. Buildings need to meet setback requirements – minimum distances from property lines. If structures are too close to the boundary, they might violate current zoning. While older structures are often grandfathered in, lenders want to know about these situations.
- Show easements that affect property use. A utility easement running through your backyard means the utility company has legal rights to access that area. You can’t build permanent structures there. Lenders need this information to understand any restrictions on the property.
- Protect the lender’s collateral. The property is collateral for your loan. If you default, the lender forecloses and sells the property. They need to know that what they’re taking as collateral is valuable, marketable, and free of major problems that would make it difficult to sell.
Not only do surveys provide the information that lenders require, it also helps them feel confident that you will be able to avoid unexpected expenses. If there is a problem on your property that was not found at closing – one that is expensive to fix or requires costly legal battles – not only is it more expensive and difficult for you, but it also may affect your ability to pay off the loan.
Mortgage Surveys vs Title Surveys vs Other Survey Types
Mortgage surveys are sometimes called title surveys because they’re used for real estate transactions involving title transfer. The terms are often used interchangeably, though technically a title survey is the broader category and a mortgage survey is the specific type done when a mortgage is involved.
Mortgage surveys differ from other survey types in scope and purpose.
- A boundary survey focuses specifically on locating and marking property corners and boundaries. It’s useful if you need to know exactly where your property lines are, but it doesn’t necessarily show all improvements or provide the detail lenders need.
- An ALTA survey is more comprehensive and follows national standards set by the American Land Title Association. ALTA surveys are typically required for commercial properties or complex transactions. They include more detail than standard mortgage surveys and address specific concerns that commercial lenders have.
- A topographic survey shows elevation changes and physical features in detail. These are used for engineering, design, and construction planning. They’re not substitutes for mortgage surveys because they don’t focus on boundaries and title issues.
- An elevation survey or FEMA Elevation Certificate measures the property’s elevation relative to flood zones. You might need one of these in addition to a mortgage survey if the property is in a flood zone and you need to determine flood insurance requirements.
For most residential mortgage transactions on Long Island, a standard mortgage survey or title survey is what lenders require.
What Happens If the Survey Reveals Problems
Surveys often uncover issues that weren’t apparent before. Finding these problems before closing gives you time to address them.
If the survey shows an encroachment, you have options. The seller might negotiate an easement agreement with the neighbor to legally allow the encroachment. The seller might agree to move or remove the encroaching structure. The purchase price might be adjusted to account for the issue. In some cases, title insurance can cover certain types of encroachments.
If structures violate setback requirements, your real estate attorney can research whether the violation is grandfathered under older zoning rules. Most older structures that predate current zoning are legally nonconforming and can remain as-is.
If easements create conflicts with how you planned to use the property, you’ll need to adjust your plans or negotiate with easement holders. Easements are legal rights that don’t go away just because you buy the property.
The survey gives everyone – you, the seller, the lender, and the title company – accurate information about the property. Problems that show up on the survey can be addressed before closing. Problems that don’t show up until after you own the property are much harder and more expensive to resolve.
The Survey Process for Mortgage Transactions
When you’re buying property with a mortgage, the survey gets ordered early in the transaction process. Your real estate attorney, title company, or lender will let you know a survey is required. On Long Island, these surveys are typically necessary.
Someone orders the survey – usually you, the seller, or your attorney depending on who’s responsible per the purchase contract. The surveyor receives the property information and researches the deed, recorded maps, and previous surveys.
The surveyor visits the property to take measurements. They locate existing property markers, measure boundaries, locate all structures and improvements, and note easements, encroachments, and other relevant features.
After fieldwork, the surveyor creates the survey drawing and certifies it. The finished survey gets delivered to you, your attorney, the title company, and the lender.
The lender and title company review the survey to make sure there are no issues that would prevent closing. If problems appear, they get addressed before the closing date.
Most residential mortgage surveys on Long Island take one to two weeks from order to delivery, though timelines vary based on property complexity and surveyor availability.
How to Get a Mortgage Survey on Long Island
If your lender is requiring a mortgage survey, contact a licensed land surveyor as soon as possible. Surveys take time, and you don’t want the survey timeline to delay your closing.
At Aerial Land Surveying, we provide mortgage surveys throughout Long Island and downstate New York. We serve Suffolk and Nassau County, including the Hamptons (East Hampton, Southampton, and Westhampton), Babylon, Islip, and surrounding areas.
We use both traditional ground-based surveying methods and aerial technology to provide accurate, detailed surveys that meet lender requirements. Our surveys are thorough, clearly documented, and delivered on time to keep your real estate transaction moving forward.
Contact Aerial Land Surveying at (833) 787-8393 to request a mortgage survey. We’ll explain what’s needed for your property, provide a cost estimate and timeline, and deliver a survey that satisfies your lender’s requirements and helps your closing go smoothly.
A mortgage survey protects your investment by confirming what you’re buying and identifying any issues before you own them. It’s a standard part of the real estate transaction process on Long Island, and having it done correctly helps ensure your purchase closes without surprises.