Can someone tell me about freddie mac reserve requirements for a second home?

Second homes: Reserves are 2 months of the mortgage payment as well as 2.months for your primary resident needed. If you have any investment properties 6 months.You can contact me at 650-352-5656.Susan www.ledinghammortgage.comYou can also google to find info.

On most loans, the reserve requirement (how many months of the house payments you have still in the bank after closing), if any, is dependent upon your individual situation, and what the underwriting computer tells us after running your application. On some loans, there is a specific minimum requirement for everyone. A good example is investment properties. Have your Loan officer run the application to determine any reserve requirements for your personal situation. For loans in MN, WI, and SD - I can help. Visit me at www.Minneapolis-Mortgage.net