1. What is Lot Coverage Percentage?

Lot Coverage Percentage is the ratio of building footprint area to the total lot area, expressed as a percentage. It's an important metric in zoning regulations and mortgage assessments, particularly for Neptune Mortgage evaluations.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Building Area — Total area covered by the building (m²)
• Lot Area — Total area of the property lot (m²)

Explanation: The calculation shows what percentage of the total lot is occupied by the building structure.

3. Importance of Lot Coverage Calculation

Details: Neptune Mortgage and other lenders use this percentage to assess property value, zoning compliance, and potential risks. Higher coverage percentages may affect loan terms and insurance requirements.

4. Using the Calculator

Tips: Enter accurate measurements of both building area and lot area in square meters. Ensure values are greater than zero for valid calculation.

5. Frequently Asked Questions (FAQ)

Q1: What is a typical lot coverage percentage?
A: Typical values range from 20% to 40% for single-family homes, but local zoning laws may set maximum limits.

Q2: Why does Neptune Mortgage care about lot coverage?
A: It helps assess property value, potential expansion possibilities, and compliance with local regulations which affect the property's long-term value.

Q3: Does this include all structures on the property?
A: Typically yes - includes all permanent structures. Check with Neptune Mortgage for specific requirements.

Q4: How does this differ from Floor Area Ratio (FAR)?
A: Lot coverage measures footprint only, while FAR considers total building area across all floors.

Q5: What if my coverage exceeds local zoning limits?
A: This may affect your mortgage approval. Consult with Neptune Mortgage and local zoning officials for guidance.