Fannie Mae – Refinance – Reserve Requirements: Does Fannie Mae require reserves on a 2-unit limited cash out or rate/term refinance? [NEW Chart: Refinance Loans – All Agencies Guideline Comparison]

Answer: It depends on the DU findings as DU determines reserve requirements on each loan. However, we do know that six months of reserves is required when the loan is cash out and the DTI exceed a certain percentage.  See highlighted text directly below, and then further below that is what the selling guide says […]

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