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Updated about 11 years ago on . Most recent reply

User Stats

61
Posts
31
Votes
Tyler Weinrich
  • Investor
  • Oklahoma City, OK
31
Votes |
61
Posts

Investment rental purchases and financing

Tyler Weinrich
  • Investor
  • Oklahoma City, OK
Posted

Been doing some research on the site and in my market to learn the ropes. Started talking to a few banks about financing my first investment purchases and had a question from this. One in particular is requiring 6 month's worth of reserves that will cover the mortgage in the case it doesn't get rented. Is this typical? Or is this just not a very investor friendly bank?

It makes sense for them to want a little more security on the loan but I just haven't heard of that from reading the forums yet. Just curious

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