Lender requirements for mortgage

[Rousner E.]

Just learned something new and I thought I should pass it on in case someone did not know this. When you are looking for lenders for your rentals, you need to have 6 months worth of the mortgage payment for each property in a fund or account in your name. This does not have to be liquid(checking or savings account) so you can use your IRA account, 401K and even money market accounts as proof of adequate reserve funds.