After 5 mortgages-No More Cashout-Refi?

[Mario Morales]

I heard and not sure if I understood correctly that after you have 5 financed mortgages you are no longer able to cashout-refi? I know your allowed to have up to 10 mortgages. 

[Alex Bekeza]

@Mario Morales 

@Andrew Postell is correct. Rubbish. In fact, you can theoretically have an unlimited amount of mortgages with commercial loans once you've exhausted your 10 limit with Fannie/Freddie. Most DSCR based lenders have no cap on the # of financed properties owned and they definitely don't care which of your mortgages were used for purchase vs. rate/term vs cash out. SOME lenders will have caps on the total $ amount they'll let a specific individual guarantee (say $10M with one particular lender) but that's just a problem you can cross when you get there.