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The required reserves can be reduced to 2 months PITI in reserves for each of the new primary residence and current Primary residence pending sale being converted if all of the following requirements are met: Value of best personal loan 20000 pending sale being converted is supported by a new appraisal with at least an exterior-only inspection and is no more than 60 days old.
LTVTLTV for pending sales being converted to a rental property is less than or equal to 70. CONVENTIONAL JUMBO: For jumbo loans, reserve requirements can vary tremendously, from as little as six months to several years, depending on how large the loan is.
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If you are doing a jumbo loan you need to specifically ask your lender how much reserve requirements are being required of you in your scenario.
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