Required Cash

Definition of "Required Cash"

The total cash required of the home buyer/borrower to close the purchase plus loan transaction or the loan transaction on a refinance. Required cash includes the down payment, points and fixed dollar charges paid to the lender, any portion of the mortgage insurance premium that is paid upfront, and other settlement charges associated with the transaction such as title insurance and per diem interest.

Search Real Estate Glossary

Related Real Estate Glossary terms

Statutory Earnings

Revenue based on conservative reserve requirements of various states. Statutory earnings do not meet ...

Labor And Material Bond

Coverage to indemnify an owner for whom work was done if the completed work is not free of worker's ...

Management Agreement

Contractual agreement between a commercial or industrial rental property owner and an individual or ...

Affirm

To confirm, ratify, verify, and accept a transaction that can be canceled. ...

Second Mortgage

Mortgage loan secured by real estate that already has a first mortgage. In case of default, the clai ...

Surveyor

One who is trained in the measurement of land for the purpose of determining its perimeter boundarie ...

Related Real Estate FAQ

What Is Commission?

The fee an agent earns for the sale of a home-usually a percentage of the selling price. ...

What Is A Subdivision?

A subdivision is a piece of land divided into several plots in which homes are built. ...

Should I Pay Points For A Lower Rate?

Paying points for a lower interest rate is a trade off between paying money now versus paying money ...

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising ...

What Is A REALTOR®?

A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affi ...

What Will My ARM Loan Payment Be ?

RealEstateAgent.com calculator will compute your initial payments and estimate your future payments. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

How is Square Footage Determined? Rent or Buy - the pros and cons 5 signs of house foundation problems Build or Buy? That’s the Big Question What Must I Disclose When Selling My Home?

FAQ

What are basis points? What do I need to know about Motorcycle Insurance? What is a closing? If I want to buy a house and I know the property and the seller already have an agent, can I act as my own agent and negotiate a lower fee? What is a lifetime rate cap?