Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for zhoum1

how many mortgages can a person have.

I have 4 properties and plan to purchase another one. I was told tha i can not have more than 4 martgage. Is it right? Help me out. Thanks.
  • January 19 2010 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (4)

You will need 6 months PITI for all properties in reserve for #'s 5-10.
  • January 19 2010
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Wells Fargo sucks
  • January 19 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

There are several lenders that allow up to 10 one to four unit financed properties. .... Talk with others in your area. ... Best wishes, Rudi
  • January 19 2010
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Fannie Mae will allow you to finance up to 10 (purchase or rate/term only if greater than 4).  The guidelines are very strict for property #5-10.

If you have strong cash reserves and 720 FICO you should be able to purchase additional property.
  • January 19 2010
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.