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Updated over 4 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • Investor
  • from Westminster, CO
  • Member since Apr 13, 2020
Connect
Account Closed's profile image
Account Closed's profile image
Account Closed
  • Investor
  • from Westminster, CO
  • Member since Apr 13, 2020
Connect
Account Closed
  • Investor
  • Westminster, CO
8
Votes |
23
Posts
Starting Out

Lending for Newbie Help!

Account Closed
  • Investor
  • Westminster, CO
Posted

Hello BP. Hypothetical question here. I have some colleagues (non-REI which is why I'm coming to you guys) that have mentioned banks will only approve you for one home loan in your first year. Say if I was planning on purchasing my first two rental properties in 2021 I would not be able to do so, or at least couldn't get conventional lending on both deals. Has any one heard anything about this before, is there any truth to this? I could see how DTI could be a factor, but other than DTI are there restrictions on getting two or more loans in your first year without owning any other rentals prior? Thanks!

Tucker

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