What is my limit for number of mortgages?

[clarkfan1979]

I currently have 4 mortgages for 4 different properties.

Two mortgages were written as a non-owner occupied rental property. Two mortgages were written as an owner occupied primary home.

Am I done at 4 mortgages?

If so, I guess my next step is commercial (5 units or more). 

[Papa bear]

Some banks will allow up to 10 conventional conforming loans.  You’ll have to call around though.


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[bearman]

If the property type is residential with 4 units or fewer, then you can get a total of 10 mortgages. Doesn't matter if they're your residences, vacation homes or rentals. Most big banks have policies that make it hard to get 10 loans, but most local banks allow it (in my limited sampling). The question to ask is whether the bank allows up to 10 or whether they have policy overlays that reduce the number from the federal max. Other property types or more residential 1-4 need commercial loans.

[Dicey]

We use a local lender who will do up to 10 mortgages as a matter of course. I have a friend who also banks with them and he has more than 10 mortgages. Clearly, he's a bigger fish with them than we are. Bonus: They don't sell their mortgages, which we love. BTW, these are all SFHs.

[Milspecstache]

If you qualify for PenFed they have told me that as long as I owner-occupy the first year they would do unlimited multi-family (up to 4 units) loans for me.  That works for me and my longterm strategy.

[clarkfan1979]

We use a local lender who will do up to 10 mortgages as a matter of course. I have a friend who also banks with them and he has more than 10 mortgages. Clearly, he's a bigger fish with them than we are. Bonus: They don't sell their mortgages, which we love. BTW, these are all SFHs.

I re-connected with my mortgage broker and he was able to confirm that the current limit is 10 mortgages.

[Dicey]

We use a local lender who will do up to 10 mortgages as a matter of course. I have a friend who also banks with them and he has more than 10 mortgages. Clearly, he's a bigger fish with them than we are. Bonus: They don't sell their mortgages, which we love. BTW, these are all SFHs.

I re-connected with my mortgage broker and he was able to confirm that the current limit is 10 mortgages.

Sounds like good news!