Cash Reserves does your client have them?

By
Real Estate Agent with First Weber Hedeman Group

 

Cash Reserves

Buyers, when you apply for a mortgage loan, the lender is going to request your bank account information. They will check again just a few days before your closing date. They want to know how much money you have in the bank, and whether or not you can afford your closing costs. They also want to make sure you have enough to cover your first couple of mortgage payments. This is referred to as “cash reserves.” The amount needed will vary based on lender and loan program. Just know that the lender is going to scrutinize your liquid assets.

From Scott Larson of Towne Square Realty in Monroe, Wisconsin

"Your Realtor of the Region"

E- Mail scott@greencountyhomeguide.com

On the web at www.greencountyhomeguide.com

I think you will be surprised how affordable the Dairyland is,

so come to my land of cows and plows and visit for a day, but stay for a lifetime

608-2124-9844 Direct

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Rainmaker
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Matthew Naumann
Exit Realty Charleston Group - Goose Creek, SC
Goose Creek, SC Real Estate Agent

Scott,

Great Post.  This is a hurdle a lot of home buyers are not prepared to overcome, when they initially start the home buying process.

Thanks for sharing,

Matt Naumann

Jul 24, 2010 01:04 AM #1
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Rainmaker
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Scott Larson

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