Limit on number of mortgages

[Murali Vempaty]

Hi,

Is there a limit to the number of mortgages that one could have as an individual investor ? In addition to my primary home, I own other (5) rental properties. I am looking to add more but I am being told that I exceeded the number of mortgages that an individual could have in their name. Is this true or is the bank simply concerned that I am taking on too much debt ? 

[Jeff Shumway]

For a conventional loan you are allowed to have up to ten financed properties in your name. Certain lenders may have additional requirements as to how much financed properties they allow you to have. With as many properties as you have, it may be worth your while to look into debt service coverage ratio loans. These require much less documentation than your standard conventional loan since they do not use your personal income and generally have no restrictions when it comes to the number of financed properties you have etc.