Easier or harder to get approved with 2nd, 3rd, etc home loan?

2 Replies

Hi! I've been a long time lurker and got a question...let's say the work income, cash amount (savings), credit score, etc are average and you managed to get approved to buy your first 2-4 units property with some positive cash flow from that property.  Since you're already on your first loan but with same work income plus a positive cash flow, is it easier or harder to get a second, third...so forth loan for another multi family properties?


Hi Solomon!

For the most part as long as the numbers work and it cash-flows, getting approval on the second, third, etc. loans is pretty straightforward. Most conventional lenders will cap you out at 10 active loans at once, however if you are working with a smaller bank or portfolio lender then it is completely up to them on how many loans they will approve you for. Hopefully this helps! 

@Solomon Smaniotto

Debt to income will eventually come into play at some point. But if it makes you feel better, I took on 20 portfolio loans my first 18 months and didn't have much of a problem since I had a day job and all properties cashflowed.