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Required Cash


Definition of "Required Cash"

Harold DeFazio
  Better Homes Realty Team

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.



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