Required Cash

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. It is shown on the Good Faith Estimate that every borrower receives. See Good Faith Estimate.

References in periodicals archive ?
At least this was not the case previously when 100pc of the required cash dollars was available.
She paid the initial P8 million of the required cash bond last April.
Under its previous system, the required cash level for each processing center and ATM was being manually forecasted for each denomination, using spreadsheets and legacy applications.
The minister noted that the proposed law gave import record owners six months to adjust their situation with respect to capital and required cash insurance to enroll in the importers' records on the condition of passing an importer training courses, which would ensure familiarity with the rules and assets of import operations in line with the objectives of the law.
I decided a long time ago not to use cash machines and, if I required cash, to draw it over the bank counter or take advantage of the many stores that operate a cash back service.
A press release issued by secretary information Khyber Pakhtunkhwa for JI quoting provincial Ameer as saying the affected persons required cash payment and it should be ensured forthwith.
Request of offers from specialized companies for the feeding of ATM machines with the required cash.
KARACHI -- State Bank of Pakistan has now decided to publish bank-wise data on excess cash reserves maintained by banks over and above the minimum required cash reserve requirement (CRR).
While talking to Daily Times, T&CD Executive District Officer Iftikhar Qaimkhani said the CDGK T&CD has not yet dropped the scheme of procuring the new CNG buses but due to lack of the required cash flow, the scheme could not be completed during the last fiscal year.
Share buyback makes sense when the company thinks that its share is valued way down the fair value and has the required cash to execute the buyback," Raghu said.
Jihad Al-Wazir, the director of the Palestine Monetary Authority, said that the required cash is ready to be transferred to Gaza Strip, and he is waiting the Israeli approval.
Now John Lamont, the Conservative MSP for Roxburgh and Berwickshire, has called on the Scottish Government to put up the required cash, claiming it is "astonishing" that the Borders area does not have a crematorium.