Lendor policy about conventional low down payment

[Kevin Gomes]

Hey Bigger Pockets,

I have a question about Conventional Loans. My Mortgage lender has told me that if I want to take a out a loan that is less than 12% I need a 6 month reserve of property taxes and mortgage? Can anyone explain how this process works? I tried to search the forums but can't type in the right keywords to find what I need. How much money do I need? Where does the money need to sit?

Thanks,

Kevin