Refinancing

[Shanequa J.]

Can I refi a rental property that I got through seller's financing even if I already have 4 mortgages on my credit report? I've heard 4/5 mortgages is the max.

[Mark Fitzpatrick]

Hi Shanequa, the Fannie limit is 10 financed properties if you're financing an investment property, but many banks limit it to 4 with their own guideline overlays. There are some banks out there that do up to 10, you just need to call around. The lender I work for only does up to 4, but will occasionally do up to 10 on a case-by-case basis.