Home Buying in La Habra>Question Details

Morcos Azer, Real Estate Pro in 90650

Is it true that banks only lend up to 4 properties for each individual?

Asked by Morcos Azer, 90650 Sat Sep 29, 2012

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Yes, 4 residential properties, but Commercial properties are OK.
2 votes Thank Flag Link Sat Sep 29, 2012
Thank you every one for your answer. It did help.
1 vote Thank Flag Link Mon Nov 12, 2012
No, this is not true.
You may have more than 4 properties, but....
you will be required to have 6 months PITI for each property in reserve AND
must put 35% down payment.

These are FNMA products.
1 vote Thank Flag Link Sun Sep 30, 2012
Yes. If you need more loans than that you have to go with a non-Fannie Mae or Freddie Mac loan. I have a lender who offers these loans at the same market rate. His number is (714) 404-7868.
1 vote Thank Flag Link Sat Sep 29, 2012
No, but some Lenders will only finance up to 4 properties and some up to 10 and some unlimited. I offer up to unlimited so inquire on rate and terms today.

http://www.Under640FicoScoreLoans.com
http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Broker – Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Mon Oct 1, 2012
Yes it is true you can only have 4 mortgages
You could go through a private lender and acquire
More properties that way. If you need a private lender let me know and I can refer you tone who deals with several of them. What is it you want to accomplish?

Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
0 votes Thank Flag Link Sat Sep 29, 2012
Are you going to flip the properties you buy or are you going to rent them?
0 votes Thank Flag Link Sat Sep 29, 2012
That is my understanding since credit has been tightened. I suggest you speak with a Mortgage Lender / Mortgage Broker to discuss your specific situation
0 votes Thank Flag Link Sat Sep 29, 2012
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