Limits on the Number of Financed Properties
The following table describes the limits that apply to the number of financed properties a borrower may have.
|Subject Property Occupancy||Transaction||Maximum Number of Financed Properties|
|Principal residence||Transactions other than HomeReady loans||No limit|
|Principal residence||HomeReady loans||DU and manually underwritten - 2|
|Second home/Investment property||All||DU - 10, manually underwritten - 6|
Exception: High LTV refinance loans are exempt from the multiple financed property policies. See B5-7-01, High LTV Refinance Loan and Borrower Eligibility for additional information on these loans.
For complete details, see B2-2-03, Multiple Financed Properties for the Same Borrower.