Mortgage Navigator • Conventional • Occupancy

Multiple financed properties

Owning several homes is not automatically a problem. The real issues are property count, reserves, rental treatment and the selected agency's limits.

Build My Mortgage Game Plan Conventional Navigator

Fannie

Fannie generally does not impose a financed-property count limit on a standard principal-residence transaction. For second-home and investment-property transactions, separate multiple-financed-property requirements apply.

HomeReady is different

For HomeReady, the occupant borrower may not have more than two financed properties.

Freddie

Freddie also imposes additional reserve requirements as property count rises for second-home and investment-property borrowers. LPA determines the required reserves for AUS files.

Count carefully: jointly owned mortgages, financed second homes, rentals and the borrower's primary residence can all affect property-count analysis.

Official guide baseline

Fannie Mae Selling Guide · Freddie Mac Seller/Servicer Guide

Occupancy must reflect the borrower's actual intended use. Misrepresenting occupancy can constitute mortgage fraud.