a Q about multiple mortgages simutaniously

[97guns]

i have 2 mortgages approved and have the approval letters to begin shopping. will i be able to aquire another loan after closing these 2 or do i aquire approval for mortgage #3 then shop and offer if i eventually want 3 mortgaged properties?

[BarryC]

i have 2 mortgages approved and have the approval letters to begin shopping. will i be able to aquire another loan after closing these 2 or do i aquire approval for mortgage #3 then shop and offer if i eventually want 3 mortgaged properties?

When you purchase a home, you will have new debt to income ratios etc that factor into getting approved for your next purchase. So to answer your question, you may be able to acquire another loan after closing on two properties depending on your ratios, fico and down payment.

You're not trying to close on the two properties at the same time with seperate lenders not knowing that you are purchasing an additional property through a different lender are you?

[Business with Greg]

Fannie Mae's limit is 10 financed properties. I wanted to add that detail. I agree with Barry's response.

[97guns]

You're not trying to close on the two properties at the same time with seperate lenders not knowing that you are purchasing an additional property through a different lender are you?

yes