Definition of cash reserve in English English dictionary
designated amount of cash holdings required for banks; fund set aside by businesses to cover emergencies
Reserves normally kept by the owner of the property to fund any operating shortfall or capital improvements that are required for the property
An emergency or contingency fund (or credit) set aside and held in an easily accessible form (such as a savings account) for the purpose of meeting emergency expenses and/or short-term cash flow needs
Borrowers are required to have a cash reserve that equals two months PITI (Principal, Interest, Taxes and Insurance) payments after the loan has been closed (this is after closing costs and prepaid feeds are calculated)
A requirement of many lenders that buyer have sufficient cash remaining after closing to make the first two mortgage payments
A requirement of some lenders that buyers have sufficient cash remaining after closing equivalent to two months' mortgage payments
An amount of money that the purchaser of a property still has after the transaction closes Some lenders require a certain level of cash reserve (equal to two payments) before granting a mortgage
An amount of money, usually equal to two or more monthly payments of a mortgage, which a lender requires a borrower to have after the closing of the mortgage
A requirement of some lenders that buyers have sufficient cash remaining after closing to make a set number of mortgage payments
A requirement of some lenders that buyers have sufficient cash remaining after closing to make a set amount of mortgage payments
Remaining cash a borrower has at their disposal after the closing of a real estate transaction A requirement on most real estate mortgages
A sufficient amount of cash left over after closing on a mortgage loan to make the first two mortgage payments or to cover a financial emergency This amount is required by most mortgage lenders
A requirement of some lenders that buyers have sufficient cash remaining after closing to make the first two monthly mortgage payments
A requirement by some lenders that buyers have sufficient cash remaining after closing to make the first mortgage payment
A requirement of some lenders that buyers have enough cash remaining after closing to make the first two monthly mortgage payments
A requirement of some lenders that the buyer have enough cash left after closing to make the first two mortgage payments
A requirement of some lenders that buyers have cash remaining after closing Traditionally lenders have required borrowers to have reserves equal to two mortgage payments
A requirement of some lenders that buyers have sufficient cash remaining after closing to make the first two mortgage payments