What is the actual limit of traditional FNMA backed loans?

[Jon Quigley]

Hi. I currently have 5 traditional single-family loans plus a HELOC on my main residence. I'm being told by my loan officer that I've reached the limit of 6 per FNMA. However, web searches seem to suggest I can go up to 10. I'm wondering if my loan officer is mixing a local rule tied with my credit union as opposed to a true Fed limit (interestingly, last year my old loan officer from the same credit union said it was 10. New guy says the rule has changed). Does anyone know if I'm able to get more loans?

Other side info:

*Current 5 are all in my name, HELOC is in my and wife's name. We cannot get any new mortgages in my wife's name as she brings in no income

*I've started to investigate portfolio loans (commercial loans) but they are way expensive and will cut into most net cash flow, or I'll have to put down much more thus reducing monthly ROI.

  Thx in advance.  

[Stephanie Medellin]

@Jon Quigley  Jeff is correct.  The limit is 10.  You need a lender that offers the multiple financed properties program.  Your credit union might have a limit of 6, but that is their own guideline.