Two separate mortgages for one house from same bank?

[G M L]

Could two people apply for individual mortgages and buy one house. For example, I apply for a $90,000 mortgage at 6.5% and the other applies for a $90,000 mortgage at 9.5% from the same lender/bank and both use their mortgages to purchase one property. Since both are using the same lender, just at different rates, would the purchase of a single property be viable?

[linkus86]

Yes if the two borrowers had formed a legal partnership of some sort (like an LLC or corporation). You could have different names on the different promissory note but both be named in the mortgages and share interest on title assigning it to the partnership name.