In most cases, the answer is two, max. It's unlikely you'll find any bank willing to give you a third position loan or a third mortgage on your home. Even though one bank can have two different positions, if there are two, often the second one will be from a different bank than the first.

TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans, and loans secured by vacant land or by 25 or more acres.

This waiting period gives you time to review all the documents to ensure that the terms you're agreeing to match the terms outlined at the beginning of the mortgage process when you received your loan estimate (which lenders are required to disclose no later than three days after receiving your completed application).

FHA loans come in a close second, with a 3.5 percent minimum down payment. Who qualifies for a 3 percent down mortgage? To qualify for a 3-percent-down conventional loan, you typically need a credit score of at least 620, a two-year employment history, steady income, and a debt-to-income ratio (DTI) below 43 percent.

Consumer purpose third mortgage refinance. This is primarily used for debt consolidation purposes. Examples of debt consolidation include: pay off credit cards, judgements, tax liens, medical debt, or foreclosure bailout.

A third mortgage is a loan in which the amount lent is based on the value of your property. Since this would be the third in a series of mortgages you have, it will be subordinate to the other two. This simply means that the first and second mortgages will need to be paid off first, before the third.