![]() ![]() In most cases, underwriting software applies complicated formulas to your situation and calculates a number between zero and 12 months of payments. Mortgage lenders require significant cash reserves when financing rental property, and the more properties you have mortgaged, the higher this number may be. Related: How to finance more than 4 properties Financing more properties The appraiser will have to prepare a rental schedule and the lender will put your cash flow and cash reserves under a microscope. Investment property cash-out refinancing may take longer than refinancing a primary home if you need the rental income to qualify for the purchase. However, there are specialty lenders that fund these mortgages all day long
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