Updated over 11 years ago on . Most recent reply
6 mo. mortgage payments
I am in the process of saving for my first investment property (3 family in Boston area). I spoke with a lender at my local bank, and was told I need to save 6 months worth of mortgage payments (in addition to my down payment) to be approved for a mortgage on an investment property. Is this common practice?
Thanks for your help!
-Lauren