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What is reasonable to expect for a reserve requirement for:
1) A rental I own and have had continuously rented fo 3 years
2) A home I am currently in an WILL rent, but won't have a track record of rent income (nor do I intend to include this or need to include it for a DTI purpose)
3) My new mortgage
How many months per for each will a lender require - and I understand the requirement is PITI + HOA for each.
Thanks!
I assume you are talking about purchasing a new primary residence.
Depending on how much equity you have in your current primary that you are planning to convert to a rental you'll either need 2 months PITI for the new + that home (if you have 30% or more equity) or 6 months PITI for the new home + that home (if you have less than 30% equity). You shouldn't need additional reserves on top of that for the other investment property you have.