How many conventional loans can I have?
Fannie Mae allows borrowers to finance up to 10 properties total (primary + second + investment). Freddie Mac caps lower in some programs. Lender overlays may tighten further — many lenders cap at 4-6 financed properties on a single borrower.
Plain-English explanation
The 10-property rule is Fannie Mae's published cap on financed residential properties for one borrower. Loans beyond a certain count (typically 5+ financed properties) trigger stricter reserve requirements, higher down payment minimums, and tighter pricing. Freddie Mac and individual lenders apply their own overlays. Subject to Fannie/Freddie guidelines and lender overlays.
What can change the answer?
Fannie Mae and Freddie Mac guidelines, lender overlays, and your specific file (credit, income, property, occupancy) drive the actual answer.
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
More conventional questions on Basics
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review.