Conventional mortgage limit with a partner

[Steve A.]

Hello!

I currently have 5 conventional mortgages. I have another 3 properties under contract with a partner. If both of our names are on the loan, it counts towards the ten mortgage limit for both of us, which seems wasteful. Is there any sensible way to get around this? For instance, if both of us owned the house but only one of us was on the mortgage? Is that even possible?

[Wendell De Guzman]

Yes Steve - it's being done all the time. One of you can be on the loan and both on the deed. Or if the lender does not allow you to do that, get the loan & the deed in one person's name and then that person will deed the property to an LLC owned by both of you. By doing this, each person can get 10 properties each.

Having said this, the only possible limitation is the debt to income and reserve requirements - i.e., if each of you can really qualify for 10 total loans.