Fannie & Freddie Financing for Husband and Wife

[Randy Chang]

Hi Guys,

Thanks in advance for your help.  I'm a new investor, and just recently ran into an issue with financing.  I've done a search in the forums, but can't seem to find the exact answer to my question below:

Background:  My wife and I jointly hold title to 4 properties (1 primary residence and 3 investment properties).  However, I'm the only person on the loan for all 4 of the properties.

Premise:  As I'm getting ready to acquire another investment property, my plan was to use my wife's name to qualify for the next set of properties, hoping that we can minimize the down payment required. (20% down instead of 25% down)

Question:  My lender has told me that because my wife is on title, she is also considered to have 4 financed properties; despite the fact that she is not on the loan on any of the 4 properties.   If we continue to take title jointly, then the both, combined, of us can only have 10 financed properties through Fannie and Freddie. Is there any truth to his statement or is he mis-informed?  

I was under the impression that it Fannie and Freddie only cares about the name on the loan, and how we take title should not affect how many loans we each have?  Ultimately, I would like to get 10 financed properties each.

Thanks Again

Randy