The maximum clasic 10 loans that banks let you get !!

[Jorge Lopez]

Something that I been always curious about it !!

I seen many post cast and read a few books but nobody said how many units you can have under de first 10 conventional loans under your name !!

Example if I have 10 conventional loans but each of them are 4plex !! I can have 40 units or 40 doors under my 10 conventional loans before go to the next step that will be comercial loans that are much more expensive or jumbo loans with balloon 🎈!! You got the idea so the question is !!

Can I buy 10 4plex that will be 10 loans under conventional loans on my 10 loans that most banks allow under Fannie Mae rules ?????

[Randall Alan]

Yes, it is based on loans (not units).  If you are married, you can put 10 in your name, and 10 in your wife's name.  But know that there are other rules that go along with that... There are increased reserves as your loans go up.  Also, you have to have a primary residence in your own name at loan 7.  In addition, you are limited to 7 if your median credit score is below 720.  

We currently have 17 loans between my wife and I on 41 units. Just know that Fannie Mae looks at "number of financed properties"... so even if you consolidate multiple properties into a commercial loan, say you refi 3 properties on one commercial loan... that is still 3 of your 10 IF you are personally responsible for the note. If you can get away without a personal guarantee and put properties in an LLC, they won't count against your 10 count with Fannie Mae.

All of the information is online at Fannie Mae's website.  Check here:

https://selling-guide.fanniema...

All the best!

Randy