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Required Cash

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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.



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Moreover, it is also not possible for you to arrange the required cash within a short span of time, unless your next payday arrives.
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.
This is because few businesses have the required cash cushion to wait 45 days to get paid.
 
 
 
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