Required cash
Definition
The total cash required of the home buyer to close the transaction, including down payment, points and fixed dollar charges paid to the lender, any portion of the mortgage insurance premium that is paid up-front, and other settlement charges associated with the transaction such as title insurance, taxes, etc. The total required cash is shown on the Good Faith Estimate of Settlement that every borrower receives.
Related Terms Other terms related to 'Required cash' starting with the letter 'R' RESPA, Refinance, Referral site, Rate protection, Rate point breakeven Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 