Updated over 5 years ago on . Most recent reply
Lending for Newbie Help!
Hello BP. Hypothetical question here. I have some colleagues (non-REI which is why I'm coming to you guys) that have mentioned banks will only approve you for one home loan in your first year. Say if I was planning on purchasing my first two rental properties in 2021 I would not be able to do so, or at least couldn't get conventional lending on both deals. Has any one heard anything about this before, is there any truth to this? I could see how DTI could be a factor, but other than DTI are there restrictions on getting two or more loans in your first year without owning any other rentals prior? Thanks!
Tucker