How many mortgages at once?

Question

Wayne Brooks · Answer

The conventional loan limit, Fannie Mae/Freddie mac is 10 mortgages properties, after that you’ll need an in house portfolio loan or commercial loan.  Of course, you have to qualify for them.

Carl Dowdy · Answer

As @Wayne Brooks correctly states, the maximum number of conventional mortgages a borrower can currently have is 10.  Not many lenders which actually go to 10 conventional and those that do will likely have caps on the maximum aggregate loan amount, geographic proximity of properties, etc. It’s not easy to get underwritten for 10 conventional mortgages, but it’s possible.

An auto loan will not count as 1 of 10.  It will factor into your DTI. Search for this publication online to find a discussion of the calculation of the number of loans a borrower has.

B2-2-03: Multiple Financed Properties for the Same Borrower (10/31/2017)

Mike McCarthy · Answer

I’ll agree with @Wayne Brooks. 10 is the limit for conventional mortgages through Fannie/Freddie. But most people start hitting DTI limitations around 5 or 6.

Of course that part depends on your other expenses, credit cards, car payments, and W-2 income.

Tim Johnson · Answer

they have lots of programs out there for having more than 10 loans.  I know of a few lenders that specialize in this type of service.  I personally know of a guy that has over 100.

James Wise · Answer

You can get up to 10 residential mortgages at a time. The 1st 4 will be the easiest to obtain. 5-10 will have slightly stricter underwriting criteria along with the possibility of a higher down payment requirement.

Ned Carey · Answer

@Matt Whittle you are only limited in the number of mortgages you have if you limit the type of lenders you go to. Think about it logically. Lots of people own more than 10 rentals. Lots of people have more than 10 loans.

How many mortgages at once?

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