How many mortgages can you have in your personal name? We owned have total 4 mortgages

Asked by Long, 94598 Thu Jun 4, 2009

How many mortgages can you have in your personal name? Currently, we have total 4 mortgages, rented 3 and live on the 4th. We plan to buy the 5th and going to rent out the 4th.

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Victoria Deb…, Agent, Pleasanton, CA
Tue Jul 14, 2009
There is really no actual limit to how many properties you can have in your name. Each lender usually limits it to 4 home loans; however if you are working with several lenders, there is no limit. Keep in mind that most investors that have over 10 properties or land holdings, usually place all the properties in a Holding company, trust or corporation for tax purposes. Each situation is specialized according to the financial obligations of the client. No matter what one should have an excellent accountant and real estate consultant/advisor. Build your portfolio smart from the beginning and you will have fewer problems when you get to that level of investment.

Victoria K. DeBray
Remax Accord
1 vote
Steven Ornel…, Agent, Fremont, CA
Tue Jun 9, 2009
Hi Long,

Per Fannie Mae's Announcement 09-02 on 2/6/09, effective March 1st of 2009, real estate investors can once again own and finance up to 10 individual properties; however, there are some new requirements. Homeowners buying above their 4th property must meet the following criteria:

720 credit mid-score
25% downpayment for a 1-unit & 30% for a 2-4 unit property
No mortgage delinquencies on any properties in the last 12 months
Effective 6/1/09: 6 months of reserves for each investment property


Not all lenders are selecting to offer these loans and you should expect pricing overlays for this option.

Rob's comment below about reviewing available equity in existing properties is a good strategy to explore.

By the way, I also offer FREE Property Management software on my website:

Best, Steve
1 vote
, ,
Thu Jun 4, 2009
I work with numerous lenders that now offer financing up to 10 properties. Keep in mind if you own property free and clear they don't count in the equation. Rob is spot on; there are options available with your current properties that may assist your new purchase.


0 votes
Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Thu Jun 4, 2009

It can still be difficult to finance more than four properties conventionally, and as Dan states below. I encourage you to run your complete situation by a home finance professional that you trust.

When I am faced with scenarios like yours, I do my best to see if there's a way to cost-effectively consolidate the financing that already exists BEFORE working on the purchase of the new property. So many times, I find that by refinancing one or more of the existing properties and getting cash out, the client is then able to buy the new property "all cash," and also get better terms on all of the financing that will remain.

You would be surprised to know how often the solution is available with the resources that already exist, but that might not be considered.

If I can be of service, don't hesitate to get in touch.

Best regards,

Rob Spinosa
0 votes
, ,
Thu Jun 4, 2009

Most lenders will only do 4, but there are some exceptions. If its a primary house your financing, it doesn't really matter how many you own, as long as you qualify income wise. If your looking to finance an investment property or second home, the amount of equity will come into play.

I would be happ yto work up some numbers for you to see what you are qualifed for, what type of rates are available to you. If interested, please email me at

Danny Castagna
Mortgage Specialist
EMM Loans
800-795-9633 x 185
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