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slpatterson · Joined: 18 Mar 2009 Posts: 1 1.38 Dollars($)

We have 4 investment properties and a small mortgage on our home, which makes 5 all together. Is there a cap on the amount?

gmakerley · Posted: Wed Mar 18, 2009 12:04 pm Post subject:

lenders are putting a cap on the number of mortgages you are allowed - generally 4. you may find a lender or two who'll be generous with you, but you will also generally pay for such a privilege.

Guest

Fannie and Freddie Guidelines are now 10.

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Guest

Where can I find the information about the change to 10 mortgages?

eric1 · Posted: Tue May 12, 2009 7:45 pm Post subject:

Yes, there are a few lenders who will allow up to 10. Most if not all of the lenders here on this forum can help you with that.

Guest

If I own 8 rental properties with mortgages and am looking to take out a mortgage on a personal residence, does the limit apply?

sunil87020 · Joined: 04 May 2009 Posts: 339 26.96 Dollars($)

yes you can do that

jenkin7 · Posted: Tue May 26, 2009 11:47 pm Post subject:

Hi JT,

The Fannie Mae and Freddie Mac used to allow a borrower to finance upto 10 properties. But last year they changed their guidelines and restricted the maximum number of financed properties to only 4. You may still find certain lenders who would allow you to finance 10 properties. But you will have to satisfy the strict qualifying requirements for that, like you must not have had a bankruptcy or foreclosure in the last 7 years, there should not be any late payments for the last 12 months, your rental income from all properties must be fully documented etc.

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