buying a duplex, conventional loan requires reserve account?

[Jeremy Williams]

looking at a duplex and just received a call from a loan officer/broker stating I'll need a reserve account with x amount of money in it since I'm planning to to rent out half the the home. I was going to do that on my own anyway but just wondering if this is normal?

[Alexander Lommel]

Troy is right. When we got conventional financing for our duplex we needed the reserves up until close. After that the funds are yours to do with as you please. Be sure to hold onto the funds until close though. We sent verification of the funds from our checking account multiple times, last time just a few days before closing.