Fannie loan on more than 10 properties

[Dmitri L.]

Here is an interesting bit of info I have not seen mentioned previously. For investment properties, you can have only up to 10 properties financed. However there is no limit when getting a mortgage for a primary residence

Straight from the Fannie Mae selling guide:

Limits on the Number of Financed Properties

If the mortgage being delivered to Fannie Mae is secured by the borrower’s principal residence, there are no limitations on the number of properties that the borrower can currently be financing. If the mortgage is secured by a second home or an investment property, the borrower may own or be obligated on up to ten financed properties (including his or her principal residence).

If you don't mind moving every couple of years, this might be one way to pick up properties 11 and up with conventional financing. Especially interesting for multi-family investors. Not sure how long you would have to live in this property after purchase - I'm assuming it would be similar to the requirements on an FHA loan. I'm sure the info is elsewhere in the 1310 pages of the Selling Guide - which should be required reading for all investors btw :-)

Hope this is useful to someone

Dmitri