This is the first comprehensive study of the eclipsing binaries V527 Dra and V2846 Cyg, based on radial velocities and ground- and space-based light curves. We perform detailed modeling of these data to derive the absolute parameters and the orbital properties of the two systems. V527 Dra is found to be a semi-detached, and V2846 Cyg a contact binary. Both show continual out-of-eclipse variations that can be explained by migrating dark spots of magnetic origin. We also perform the eclipse timing variation (ETV) analysis which reveals that V527 Dra has a tertiary companion whose mass (∼1M⊙) and orbital inclination (∼70○) are additionally constrained by radial velocities. The ETV diagram of V2846 Cyg displays a quadratic trend accompanied by a low-amplitude cyclic variation, likely due to a magnetic cycle, although further eclipse times are needed to provide a clearer explanation. Lastly, we demonstrate a correlation between the variations in spot parameters obtained via light curve modeling for individual orbital cycles and the residual ETVs, essentially confirming the assumption of magnetic activity in both systems.