Short answer
Fannie Mae allows up to 10 financed properties when the new loan is for a second home or an investment property. There's no limit when the loan is for your own home, except for HomeReady loans. Past 10, DSCR loans don't use the same count.
What counts toward the 10?
- Each 1 to 4 unit residential property you're personally obligated on, even if its payment is left out of your debts
- Your own home, if it has a mortgage
- Properties financed for all borrowers on the loan combined
The limit counts properties, not mortgages. A 2 to 4 unit building counts as one, and a property you finance jointly with someone counts once.
What doesn't count?
Commercial real estate, buildings with more than four units, timeshares, vacant lots and manufactured homes titled as personal property don't count, even if you're personally obligated on them.
Does it get harder as the count grows?
Yes. Fannie Mae requires more reserves for second home and investment loans as your number of financed properties grows, on top of the money you need to close.
What are my options past 10 properties?
A DSCR loan qualifies mainly on the property's rent, and each lender sets its own rules on how many properties you can have. See DSCR loans and conventional vs DSCR for the full picture.
Sources
Checked October 27, 2026. Rules and dates change, so confirm current details before you rely on them.
General information only, not tax or legal advice. Program availability, eligibility and terms vary by lender and are subject to change and to underwriting approval. Not a commitment to lend.