How Many Mortgages Can You Have

How Many Mortgages Can You Have at Once?

Are you looking for an answer that how many mortgages can you have at once?

You are in the right place. 

There are many new real states investors who have the same question that “how many mortgages can you have?”. Frankly speaking, there is no limit on how many mortgages you have. But in real state investing, multiple mortgages can be much more challenging.

In 2009, Fannie Mae guidelines increased its financed properties limit from 4 to 10. You can qualify for more. 

However, there are some methods that will help you grow your real estate investment portfolio even more.

First, let’s talk about the pros and cons of having multiple properties.


The main benefit of having multiple properties that you don’t need to have lots of cash in your hand. You just have to focus on covering the down payment and the closing cost for new properties.



You may face some challenges of taking on a lot of mortgage debt. If something goes wrong then it could get much more difficult to keep making your monthly mortgages payments.

You may also deal with higher interest rates on mortgages when you have multiple properties.

Now let’s talk about “what are the requirements for having multiple mortgages?”


Requirements For Your First Four Mortgages

When you try to get your first four mortgages, your lender may ask you to fulfill some requirements. The process of getting loans for your first four properties is similar. You need to meet the following qualifications:

  1. Make sure your credit score is good (Approximately 670 to 739)
  2. Your loan-to-value (LTV) ratio is less than 75% to 80%
  3. Your existing properties are performing well and bringing cashflow
  4. Proof of income from W-2s or tax returns
  5. Statements of assets, liabilities, and existing loan information.

These are basic requirements that you need to qualify to get your first four mortgages. Your lender may have other requirements as well. Make sure you ask them for more details.

How Many Mortgages Can You Have at Once

Requirements For Mortgages Five to Ten

For mortgages above four, lenders place stricter qualification requirements. Once you have more than 4 properties then you must use the FNMA 5-10 Financed Properties Program.

These are the following requirements:

  1. You must make a minimum 25% down payment for a single-family rental property and a minimum 30% down payment for a multi-unit property.
  2. A minimum credit score of 720.
  3. No late mortgage payments on any other properties in 12 months.
  4. No bankruptcies or foreclosures report in the last seven years.
  5. You have to provide the last 2 years’ tax returns showing all rental income from all of your properties.
  6. You must have 6-month cash reserves to cover PITI (Principal, Interest, Taxes & Insurance)
  7. Must sign a 4506-T form for tax purposes

So these are requirements you have to fulfill to get multiple properties.


Some Other Ways to Finance Multiple Mortgages

As a real estate investor, you can use many ways to finance multiple mortgages. There are some alternatives to taking out multiple mortgages. 

Those alternatives are such as:

  • Blanket loans
  • Portfolio loans
  • Cash-out refinance



  • How many mortgages can you have with Fannie Mae?

Ans: Today, the maximum number of allowable, simultaneously financed properties is 10. You get more than 10 don’t worry.

  • Can you have multiple mortgages on the same property?

Ans: Yes, you can.

  • How many primary mortgages can you have?

Ans: You can have more than one. Don’t worry about the numbers.





Here I talk about the requirements of having multiple mortgages, the pros and cons of having multiple mortgages, and How many mortgages can you have at once. 

I hope it will help you to know more about having multiple mortgages.

Comment bellow “How many mortgages you have now?


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