Fannie Mae 10 Property Limit: Spouse gets another 10?
I've hit my 10 property limit with Fannie Mae: I invest all single family buy and hold homes.
I've had several bankers say they'd loan more to me (on thier commercial side)
I'm curious if anyone has successfully used a spouse to own/qualify for more Fannie backed loans?
She is currently on title/note/mortgage for 2 loans/properties.
One had been a rental for almost 2 years and one will be a rental when we move in under a month.
Future primary residence is in my name only.
She has W2 (schoolteacher) income.
My favorite banker said that since we file taxes jointly, she didn't know if I could have 10 loans and wife could have 10 also.
Banker said she'd dig into it, but I figured there's alot of people fairly versed in banking regulations here so I'd like to help point her in the right direction. Her bank seems very willing to work with me.
Note: Let's keep this discussion to Fannie financing options, please.
I know I can get portfolio loans. I want to avoid them for as long as possible.