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Updated over 10 years ago,

Mina G.'s profile image
Mina G.'s profile image
Mina G.
  • Rental Property Investor
  • from Jersey City, New Jersey
  • Member since Sep 17, 2013
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User Stats

88
Posts
7
Votes
Mina G.'s profile image
Mina G.'s profile image
Mina G.
  • Rental Property Investor
  • from Jersey City, New Jersey
  • Member since Sep 17, 2013
Connect
Mina G.
  • Rental Property Investor
  • Jersey City, NJ
7
Votes |
88
Posts
Private Lending & Conventional Mortgage Advice

buying a 2nd property must show 6 month reserve?

Mina G.
  • Rental Property Investor
  • Jersey City, NJ
Posted

I just got off the phone with a lender and he informed me that I will need 6 month of reserved mortgage payment for each of the properties to obtain a mortgage for a property I want to purchase. Is this true for all programs out there?

This will be my 2nd property.

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