Can you refinance a mortgage to include the purchase of an adjacent lot?

No, but you can get a cash out loan by refinancing & just pay for the lot with the proceeds. Unless the 2 properties are surveyed as one you can't have one mortage for 2 properties.

No. The new loan has to be for the same property - only.

You could refinance the mortgage and tell them that the two parcels go together and to do one loan for both parcels together. if the other lot is worth $50,000 they may up your mortgage $20,000 saying the larger parcel sold as a whole isn't worth much more. So it won't help much and will put this other parcel under a mortgage so you can't sell it separately some day in the future but it can be done.

No. You can refinance and do a cash-out of equity, and then pay cash for the lot. You will have the separate tax acct number for the lot that you want. You do not want to combine two parcels into one. It costs money and is an unnecessary expense.

Yes. But you would need a new appraisal to include both lots to originate a new mortgage and in doing so may need tp have pay a down payment if you lack equity in the original mortgage.

No, as you cannot get one mortgage for two properties.

It wouldn't all be the same property unless you were able to actually combine them, which doesn't always work.

It is not all the same property "if purchased", unless you go to your local agency and have it included as one parcel. As it is, if you purchase this property you will have two adjacent parcels.

You can finance land, if it is worth anything.

Land as collateral is a shorter term higher interest rate loan of lower loan-to-value. If the lot next door is already zoned for building as a separate lot, adding it to your property lowers its value. If it's not zoned to build on, you can combine it in refinancing but a larger lot doesn't add much value usually.

Most people try to separate large lots for higher value.

You should probably look into the values and your equity level.

You should already know the zoning of the lot, and if not, get it.

What is the total plan? Are you looking to buy the lot to give you space to expand your home?

There are many possibilities, but a loan on land requires you put up more money usually.

Yes you can finance land. How much are they asking for the land? Gather up your down payment and go talk to a lender about a loan to purchase it.