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How can one invest in real estate with a limit of 4 mortgages?

My husband and I started investing in rental properties about 2 and a half years ago.  We have 6 mortgages currently.  We are still interested in obtaining at least one more property.  However, our lender says we do not qualify for a loan as the limit is 4 mortgages.
  • August 14 2009 - Villages of Westcreek
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Answers (6)

Talk to a commercial lender.  Every retail bank in your area will have a commercial lennding department.  And some brokers offer commerical loans as well.  I think you might even find the process of obtaining a mortgage loan for a rental property, even a single family home, simpler than the process through a residential lender.  Less paperwork for sure!
  • August 15 2009
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Contact a different lender. Some lender allow up to 10 properties but only 4 financed properties with them.
  • August 14 2009
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Here is a good link for you to read and print out.  Rudi is correct it takes sometime for lenders to implement changes into there system.  As this is very recent for fannie/freddie to implement guidelines for borrowers having 5-10 mortgages in their name.  Hope this helps!

http://www.mortgagenewsdaily.com/wiki/How_Many_Mortgage_Loans.asp
  • August 14 2009
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I just reconfirmed a few lender's quidelines and yes, there are lenders that currently would allow you to have up to 10 financed properties. My advice would be to contact a mortgage broker in your area who has access to numerous lenders.
  • August 14 2009
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The limit per GSE guidelines is now limited to 10 finance properties. Currently, no lender to my knowledge has implemented the new guidelines. .... You'll probably have to wait a month or two. The other alternative is to pay cash.... Best wishes, Rudi
  • August 14 2009
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Find another lender! Not all lenders limit you to four financed properties.
  • August 14 2009
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