Total amount of conventional loans in your name at one time.

[Caleb Clay]

Hey guys, Ive got a couple questions that maybe some of you might could help me out on.

1. I can only have 10 residential conventional loans in my name and 10 other ones in my wife's name at one time? I can only have 1 FHA loan at a time? Out of those 20 possibly loans at once, I can do 5% down with a 30yr am correct? My plan is to get the properties in my name this way and then quick claim deed them over to a LLC although I know that I probably wont be able to do that.

2. Say I buy a house today for $150k at 6% on 20 yr fixed. In 4 years the economy tanks and the property is now worth $100k. Could I pay off my existing loan with cash, then refinance into a 30 year fixed at say 4%? I know I would lose $50k up front but over the long haul I would save at least that $50k in interest and basically cut my PITI in half and double my cashflow the next 30 years. What am I missing with this strategy if this happens?

Yall take it easy on me as I am just brainstorming! Thanks!