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Updated about 11 years ago on . Most recent reply

Lauren Bellis's profile image
Lauren Bellis's profile image
Lauren Bellis
  • Rental Property Investor
  • from Boston, MA
  • Member since Mar 18, 2014
  • Posts 14
  • Votes 2
  • Experience 14 Yrs
  • Investments 3
Connect

User Stats

14
Posts
2
Votes
Lauren Bellis's profile image
Lauren Bellis's profile image
Lauren Bellis
  • Rental Property Investor
  • from Boston, MA
  • Member since Mar 18, 2014
  • Posts 14
  • Votes 2
  • Experience 14 Yrs
  • Investments 3
Connect
Lauren Bellis
  • Rental Property Investor
  • Boston, MA
2
Votes |
14
Posts
Starting Out

6 mo. mortgage payments

Lauren Bellis
  • Rental Property Investor
  • Boston, MA
Posted

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

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