Today’s tip: Cash reserves are an important part of your transaction. Read on to learn more.
What Are Cash Reserves And Why You Need Them To Buy A Home
“If you’re looking to buy a home, you probably already know that you’ll need to have some money in the bank in order to make it happen. However, you may need more than you’d initially expect. In addition to the funds you’ll need for your down payment and closing costs, banks look for you to have a certain amount of money in cash reserves in order to by a home. Keep reading to learn more about what cash reserves are and how they affect your transaction.”