Cash Reserve Requirements Have Changed!!

[Jerry Padilla]

Cash reserve requirements just changed for conventional financing! 

6 months PITI is required on subject property, always! 

If you have 1-4 financed properties than it is now 2% of all unpaid principle balances.

If you have 5-6 financed properties than it is now 4% of all unpaid principle balances.

If you have 7-10 financed properties than it is now 6% of all unpaid principle balances.

Money must be in account for 60 days or sourced.