Required Cash | Propertylogy

Required Cash

By on September 26, 2018

The required cash refers to the total amount of cash a borrower needs to have in possession in order to close the loan transaction or the property transaction as a whole.

Do note that loan closing costs is just a segment of total property closing costs.

Depending on the context where the term required cash is used, it might refer to the former or latter.

When a mortgage concern the purchase of a new home by a home buyer, the transaction closing costs might be very much higher than loan closing costs.

When a mortgage concerns refinancing an existing loan of a homeowner, the transaction closing costs might be markedly lower and the loan settlement costs will take up the bulk of closing costs.

The required cash will make up of:

When a borrower have insufficient cash, it is common to get a second mortgage, a jumbo, a piggyback loan, etc.



You May Also Like...

hair1 eye1 abs1
View the latest and lowest Singapore Home Loan rates
Why friends look forward to your FAILURE
Hiring a competent agent
Best EVER excuses for being late to work

Investors and homeowners receive our newsletters. Subscribe to our list.

Get More Real Estate Knowledge & Insights From Our Newsletters

Enter your email below

Send this to a friend