Do you need reserves when using VA

[ashdown1967]

I know you need like 4 months reserve when going through FHA, do you need reserves when going through VA?

Thanks in advance

[ceejx]

Depends on who you use for the mortgage. There is no reserve requirement for VA like there are for others, but that doesn't mean whoever has the loan can't require it on their own. Who I'm using right now doesn't care about reserves because it's backed by VA. 

[Anonymous]

I don't believe FHA requires reserves unless there are extenuating or compensating factors necessary to approve the loan.  The "reserves" requirement on single family homes is more or less a lender specific thing.  Some lenders want to see reserves, some don't.  Some just use the fact that you are gainfully employed, and have continously been, as evidence that you will continue to be able to pay your mortgage.  I believe FHA requires reserves when purchasing a multiple unit property.  Anyone can please feel free to correct me if I am wrong.

[ashdown1967]

Thank you