Video Transcript:
Lenders look at more than just your down payment. They want to see what money you have left over after closing the deal. This is called a reserve. I show lenders how you handle money. My name is David Ghazaryan. We prepare a plan for your reserve funds so your loan gets approved without delay. The rule uses your total monthly house payment, called PITI. Most people must show two to six months of these payments saved after closing. (Data may vary over time) You can use more than just your checking account. But they don't count everything. Stocks are only counted at seventy percent of what they are worth. For investment homes, the rules are much tougher. Lenders will require reserves for the new property and for every other home that you already own. This structure is key to getting approved. For a deeper analysis, my related article and social platforms are linked for you in the video description below.
Read Blog Here: https://www.iqratemortgages.com/blog/mortgage-reserve-rules-in-dallas-and-houston-explained
