Refinancing rentals and second homes, answered plainly
Reserves for rentals
Plain answer
Investment property refinances often require reserves, measured in months of payments, and the requirement can grow if you own several financed properties. Lenders verify these funds with statements. Plan reserves before applying so the refinance is not held up.
Last reviewed against the primary sources listed below.
Count
- Savings and investment accounts.
- Retirement funds under lender rules.
- Months required per property.
Landlords also ask
How much reserves do I need for a rental refinance?
It depends on the program and how many properties you finance.
Can retirement funds count as reserves?
Often, under lender rules.