Changing Title ownership to own more than 4 properties

[Rian Ash]

Hi BPers,

I currently 3 properties- 1 Primary and 2 rentals. They are conventionally financed with both myself and my wife on the mortgage and the title. I am planning to refinance all of the properties and while doing that I want to be the sole person on the title and the mortgage. The reason of my doing this is to get conventional financing for 8 properties- 4 owned by me and 4 by my wife. I believe this is possible (please let me know if it isnt - I reside in California in case that matters).

The question is how do I go about doing it

Should my wife create a quit claim deed for all the 3 properties during the refinance? And is that enough?

After we have done the refinance and I have the title and the mortgage on my name, is there a way I can create a deed and transfer 50% of my stake in the property to her?

[Upen Patel]

@Rian Ash You are not limited to just 4 conventional mortgages. You can get up to 10 conventional mortgages per individual. The primary residence counts against you even if you are not on the loan. So between you and your wife you have have 19 properties financed using conventional loans.

Cash-out is limited to 6 properties. Property #7-10 can only be purchase loans or rate-term refi.

You are on the right track with regards to refi to your name and remove your wife from the title. That way there are no questions raised when you go to get a mortgage in your wifes name.