 max mortgages conv. loan (by DonV [OH]) Aug 5, 2020 12:57 PM
 max mortgages conv. loan (by Ken [NY]) Aug 5, 2020 3:32 PM
max mortgages conv. loan (by Homer [TX]) Aug 5, 2020 3:36 PM
max mortgages conv. loan (by DonV [OH]) Aug 5, 2020 4:53 PM
max mortgages conv. loan (by Jason [VA]) Aug 5, 2020 5:23 PM
max mortgages conv. loan (by Barb [MO]) Aug 5, 2020 5:42 PM
max mortgages conv. loan (by DJ [VA]) Aug 6, 2020 9:55 AM
max mortgages conv. loan (by DonV [OH]) Aug 6, 2020 10:25 AM
max mortgages conv. loan (by RP [CO]) Aug 6, 2020 11:00 AM
max mortgages conv. loan (by DJ [VA]) Aug 6, 2020 12:11 PM
max mortgages conv. loan (by Homer [TX]) Aug 6, 2020 12:27 PM
max mortgages conv. loan (by Jason [VA]) Aug 6, 2020 1:30 PM
max mortgages conv. loan (by FloridaNative [FL]) Aug 6, 2020 1:55 PM
max mortgages conv. loan (by DonV [OH]) Aug 6, 2020 3:35 PM
max mortgages conv. loan (by DonV [OH]) Posted on: Aug 5, 2020 12:57 PM
Message:
What is the max # of loans you can have? Properties? I have always heard 10 mortgages, recently someone told me I cannot have more then 10 properties regardless of how many mortgages? This seems odd.
--70.158.xxx.xx |
max mortgages conv. loan (by Ken [NY]) Posted on: Aug 5, 2020 3:32 PM
Message:
You can have as many houses and as many loans as you want,10 mortgages seems to be the number that i hear for some govt backed loans but small local banks can give you additional mortgages,private money,seller financing,cash etc --104.229.xxx.xxx |
max mortgages conv. loan (by Homer [TX]) Posted on: Aug 5, 2020 3:36 PM
Message:
10 on government backed loans, but small banks that carry their own paper will do more. My wife and I bought separately so we could get more than 10 government backed loans
--66.169.xxx.xxx |
max mortgages conv. loan (by DonV [OH]) Posted on: Aug 5, 2020 4:53 PM
Message:
This bank is telling me that if I own 10 properties with NO MORTGAGES they will not lend to me. Even if I have 0 mortgages.
--173.90.xx.xxx |
max mortgages conv. loan (by Jason [VA]) Posted on: Aug 5, 2020 5:23 PM
Message:
I haven't checked in a while, but for me the banks told me 5 was the most they would permit at one time. It was good motivation for me to pay a few off.
I could still get commercial loans, but they're quite a bit more expensive.
--73.177.xxx.xx |
max mortgages conv. loan (by Barb [MO]) Posted on: Aug 5, 2020 5:42 PM
Message:
My bank goes by $$$ borrowed as a percentage of their assets and my ability to pay.
--67.43.xxx.xxx |
max mortgages conv. loan (by DJ [VA]) Posted on: Aug 6, 2020 9:55 AM
Message:
I believe it's a maximum of ten federally-backed loans PER PERSON.
So, if you are married / have a partner. Each of you may have ten( in your name only), and then I believe one more jointly - total of 21, if you wanted that many. --70.160.xxx.xxx |
max mortgages conv. loan (by DonV [OH]) Posted on: Aug 6, 2020 10:25 AM
Message:
I am not trying to be rude but NO ONE IS READING MY QUESTION and everyone is answering incorrectly.
I am NOT TALKING ABOUT MORTGAGES. Forget mortgages. Ignore it completely.
I am talking about how many properties you have.
PLEASE FORGET ABOUT MORTGAGES I am not asking about how they affect a new mortgage. This has nothing to do with my question.
I am asking if your bank stipulates how many properties you can have. --173.90.xx.xxx |
max mortgages conv. loan (by RP [CO]) Posted on: Aug 6, 2020 11:00 AM
Message:
Hi Don V- I read the question and it sounds like you need to find another banker. The banks requirement that you can not own more than 10 properties regardless of financing does not make any sense, it sounds like the banker is misunderstanding the regulations. --71.218.xxx.xxx |
max mortgages conv. loan (by DJ [VA]) Posted on: Aug 6, 2020 12:11 PM
Message:
Don: Take a deep breath, calm down, and stop YELLING.
Go back & read your original post.
Your first question is "What is the max # of loans you can have? ".
Then you also talk about how many mortgages.
If you are just wondering how many properties you are allowed to own, then the answer is as many as you can afford.
NO - a bank shouldn't limit you from owning lots of free & clear properties. In fact, I think it should be considered good - lots of collateral for the one you want a loan on.
Until our legislators limit it --70.160.xxx.xxx |
max mortgages conv. loan (by Homer [TX]) Posted on: Aug 6, 2020 12:27 PM
Message:
LOL, no, the bank doesn’t care how many houses I have, which is well over 10. You need to find a new bank. --66.169.xxx.xxx |
max mortgages conv. loan (by Jason [VA]) Posted on: Aug 6, 2020 1:30 PM
Message:
You said “ What is the max # of loans you can have? ”
One would assume on a landlord site, “loans” refers to “mortgages”. So rather than cock an attitude, maybe convey your question in a manner that people can understand? --73.177.xxx.xx |
max mortgages conv. loan (by FloridaNative [FL]) Posted on: Aug 6, 2020 1:55 PM
Message:
I have never seen a bank limit assets (non mortgaged real estate). It's possible that the bank made such a limit but it defies reason. It's more likely the loan officer misunderstands his loan guidelines I've seen that before. --68.104.xxx.xxx |
max mortgages conv. loan (by DonV [OH]) Posted on: Aug 6, 2020 3:35 PM
Message:
I did you are right sorry guys! This is new I have never heard this before. Most likely bank guys does not know what he is talking about. I see it all the time. --173.90.xx.xxx |
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