Tag Archive for: reserves

Cash Reserves After Closing – How Important Are They? Inflation…Or Not

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Four of our borrowers starved to death shortly after moving into their homes last year. This is because our poor borrowers had no money to buy food because most loan […]Read More

“Reserves” – Why & When They Are SO IMPORTANT!

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WHY TWO NEARLY IDENTICAL BORROWERS GOT 1/2% DIFFERENT RATES We recently had two nearly identical borrowers get rate quotes that were 1/2% different on the same day they were quoted […]Read More

Major Purchases Prior To Close Are OK If Cash Is Ample; No Financing

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Borrowers are usually told not to make any major purchases prior to buying a home or while they are in contract. This is b/c major purchases can either deplete necessary […]Read More

“Reserves;” What Are They? When Are They Necessary?

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“Reserves” include the liquid funds available to a borrower after a transaction closes. In other words, reserves are funds left over after all down payment and closing cost funds are […]Read More