Limit of 2 conventional loan applications per year

[John Truong]

Hello all BP members,

I am about to close on a second rental SFH, financed with a conv. loan. The first loan was also conventional; both loans are within 4 months.

My loan officer told me that I have to wait a bit to apply for a third loan because of a rule that limit (beginner?) investors to two loan applications with a 12-month period. Can anybody please explain to me what this rule is about?

Thank you in advance.

-John