I own 4 rentals, want to buy a 5th as primary

My advice is to contact a local Mortgage Banker/Broker - -local to where you will be buying - - rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, even those that will finance a loan for someone like you with more than 4 financed properties. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. You can find a Licensed Mortgage Professional at the National Association of Mortgage Professionals at: http://www.namb.org/assnfe/SearchBroker.asp?SnID=1921118381. Members adhere to a strict Code of Ethics which benefits the consumer. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org. If the new property is going to be your primary residence, you could be looking at as little as 5% down, and since there are very few investors willing to do these loans, their rates are a little above what you could get if you only had two rentals. The rest of your questions are going to be investor specific and should be addressed to the Mortgage Banker/Broker you select. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

You really should contact a local mortgage broker... the limited info you provided makes it near impossible to properly answer your question, and based on what info you did provide, it's clear you have a complicated scenario... the biggest problem you might face is employment and income... if while overseas, you filed US tax returns, and paid taxes to the US on that income, then what ever taxable US income you show on those returns, is what the underwriter will use to determine your debt to income ratios. Also, we would need a lot more details on your employment.. did your employer send you overseas, or did you go there for a job, and now you have a new job? Just too much info missing to properly answer your question... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hello Rory, I have access to lenders that allow borrowers to finance over 4 properties...please give me a call at (803) 381-5149 Travis Torcoletti Ikon Financial Group. We have an office right in NC and have options for you.

Call Travis and have him help you.

Yes, you can finance a property that will be your primary residence pretty much without regard to the number of other properties you own. You can probably put as little as 3-5% downpayment and with excellent credit (740+) the rate should be around 3.5% with 0 points or origination fee (but some other charges that are lumped in as origination "charges"). You will likely need to show decent reserves for each of the other financed properties, the amount is normally determined by an electronic program and could be as much as 6 months PITI payment for each of the other properties but with a strong application would likely be less. I'm right down the road from you in SC: pdumouchel@primelending.com Direct: 843.619.6025

Hi. We lend to borrowers with up to 10 mortgages. "Mortgages without Obstacles!" I also just did a Conventional loan of $417,000 with 3.0% down (with good credit, and a 40% debt ratio). I'd be happy to assist you with your mortgage needs. Click on my picture, for all of my contact information. Jeff 512-381-4643

Rory all my associate have answered correctly- key things would be to go with some one local- set an appointment and fill out a full application and provide all your documentation, taxes, w-2's rental agreements and asset statements and anything else he or she asks for. Yours is a complex case but very doable. Depending upon what loan program you go with and how much equity you have in your investment properties will determine the minimum down payment and reserve requirements it can be as little as two months reserves on all mortgages, taxes and insurance and HOA fees or as high as 6 months. There are special program for foreclosures such as the $100 down HUD repo program for HUD owned homes and Fannie Mae Home Path with 3% down or the equivalent Freddie Mac home steps with 3% down for Fannie and or Freddie owned homes. Depending upon your liquidity of assets and your overall debt to income ratio will determine which programs you will qualify for. Keep in mind your rental income will only be allowed if you have filed it on taxes the last 2 years. Good luck!