Can I get a USDA loan if I already have 10 mortgages?

5 Replies

Jump to latestLatest
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    10y

    @Sean KuhnYou can only get 10 conventional loans (Fannie/Freddie, VA, FHA, USDA). After that the only way you can get a conventional loan is if it is for a primary home purchase.

    [email protected]571-200-6180
    0Reply
  • Sean Kuhn
    OP
    Minooka, IL · Member since 2013 · 353 posts · 85 votes
    10y

    @Upen Patel it would actually be for my primary residence. I thought after ten they wouldn't lend you any conventional loans regardless? 

    0Reply
  • Sean Kuhn
    OP
    Minooka, IL · Member since 2013 · 353 posts · 85 votes
    10y

    @Upen PatelIs this the exception you were talking about, this is directly from a Fannie Mae website:

    No property ownership restrictions if purchasing a primary residence or second home

    0Reply
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    10y

    @Sean KuhnYes.

    [email protected]571-200-6180
    0Reply
  • Mohan Dag
    Charlotte, NC · Member since 2016 · 42 posts · 7 votes
    10y
    Upen Patel I have PM on financing options for a new investor that don't qualify for conventional loan.
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free