Government Fha loan question

2 Replies

So this might be a dumb question but let's say I have ten fha loans out for 50k a piece. (From what I am aware of, ten is the max number of fha loans you can get out.) Can I then refinance my ten loans and group them into one larger fha loan for 500k and then be back to being able to pull nine more fha loans out?

I think you're confusing conventional loans with FHA. FHA loans are low-down, owner occupied loans. I don't think you can have more than one of those.

Conventional loans, i.e., loans that conform to the Fannie Mae and Freddie Mac rules, are available for investment properties.  And you can have up to 10 of those.  However, you cannot get a conventional loan for multiple properties.  That would be a "blanket loan" and those are only available from portfolio lenders who keep their loans.  Fannie and Freddie won't buy blanket loans.  Further, it doesn't help with your goal, which is to get more conventional loans.  The limitations on those loans is not that you can have up to 10 conventional loans.  Rather, you can only get a conventional loan if you have nine or fewer mortgaged properties.  Doesn't matter what kind of mortgage you have on those other properties.

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