Multiple mortgages, can I get two more?

For Fannie Loans (Conventional) most lenders are going to want you to maintain 4 or less mortgages at a time. The commercial and investment interest loans are going to vary by institution. There are several meanings when you state commercial, so you may want to specify a bit more, 5 unit or more apartment buildings, shopping malls, store fronts, mixed use buildings? As you are looking the qualifications for each will be different, the major constraints in this market are capital. Do you have at least 25% for a down payment? How has the commerical property performed in previous years, as well as, your personal experience managing these types of properties. Hope this helps give you some things to begin bouncing around.Cecelia MarlowChicago BancorpMortgage Banker312-738-6294 directwww.yourhomeloanpartners.com

For standard conventional mortgage programs (Fannie/Freddie) you can have up to 4 investment loans + 1 primary residence. I don't believe commercial lenders have limit. If multi-family has more than 4 units it's considered commercial.

You can have up to 10 properties financed per Fannie Mae guidelines. However most lenders will not finance you on more than 4 properties, so you would have multiple lenders. You can get a couple of more properties, however the commercial end of it is just that... commercial. Commercial loans will go against your 10 max financed properties, and most lenders specialize in one or the other, but mortgage brokers can do both. Contact a local mortgage broker, not a bank, and apply with them. They have a vast number of lenders they deal with and will be able to place your loans with the right lender match. WilliamAcres.com

Fannie Mae limits the number of financed residential (1-4 family properties) properties to 10 or less. Most lenders limit the number to 4 or 5. There are a couple of lenders out there that will go all the way up to 10, with larger down payment requirements and higher rates, but it can be done. Lenders on commercial properties, which would include Commercial, retail, industrial and residential projects/buildings that are 5-plex and more are not Fannie eligible and are financed based upon the merits of the transaction and borrower(s). A local Mortgage Banker or Mortgage Broker should be able to coordinate all of the financing for you from the various lenders available.

I can offer borrowers up to 8 conventional mortgages and Fannie Mae has a limit of 10. Your best best for commercial property is to speak to a local bank or credit union- your own if you have large deposits with them. Remember that commercial loans are not required for 4 or less units.