Hi All, How much additional saving $$ needs to be present in your account during closing to successfully approve loan. Let’s say if mortgage payment(principle+interest) is $3500 and prop tax+mellarose is $800 per month.

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if it is a primary residence you typically don't need to show reserves. So if you have enough funds to cover the cash needed for closing most of the time that is enough.

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I think they want to see additional assets to pay 6 months. But that can be in 401k or something less liquid.

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