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Key takeaways
- Mortgage reserves refers to cash or other easily accessible assets you could use to make mortgage payments. These are assets above and beyond the cash you’d use for a down payment and closing costs.
- Reserves are measured in months.
- Not all borrowers need to have reserves.
www.bankrate.com/mortgages/cash-reserves-for-mortgage/- People also ask
WEBBy: Peter Miller. March 5, 2019 - 4 min read. In this article: You need more than just your down payment and closing costs. Many mortgage lenders also require reserves to buy a home. Things to...
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