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Cash Reserve

Do you want to know what Cash Reserve means?

 

Cash Reserve :
Sufficient cash remaining after closing to make the first two mortgage payments.

 

Did you find our explanation of the phrase Cash Reserve useful? If so please use our glossary to look at more explanation of phrases like Cash Reserve and many thanks for patronising our site.

 

No problem understanding Cash Reserve so how about Monthly rental income

 

 


What Not to do when taking a mortgage or loan

Don’t fall for a loan from a door-to-door salesman or home improvement contractor who comes to your home. Don’t take out a loan on your property for anyone else unless you can afford to lose that money forever. Don’t decide whether you can afford a loan by the monthly payments alone. Don’t sign anything that has blank spaces. 

If you’re like most homeowners, your house is the most important and valuable thing you own. The money you’ve put into your home can enable you to borrow money with a home equity loan. Your home secures the loan—unfortunately, you can lose your home if you are unable to make the loan payments.

 

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