10 mortgage limit question

[Roger S.]

When doing a refi, how does the 10 mortgage limit work?  I did a refi last year and ran into that issue, but since I was at 10, it didn't matter.  I guess my question is, do portfolio loans count towards the 10 mortgage limit?  All of my rentals except the one I refinanced are through local banks and are not sold to Fannie or Freddie.  Will Fannie or Freddie count these as mortgages?

[Wayne Brooks]

Chris, you are clueless about this, and as a supposed “lender”? LOL

The conventional limit is for 10 “mortgaged properties” not “10 mortgages”.
10 properties with 2 loans each counts the same as 10 properties under one blanket loan.
And yes any type of loan on a property counts that property toward that limit.