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Cash reserves, or “mortgage reserves,” are funds a customer has easy access to in addition to their down payment and closing costs. These funds can be liquid—like cash in a…
Tag: Mortgage Basics
This step-by-step guide is packed with tools and insights to help you navigate the process from preparing to shop to closing on your new…
Estimated reading time: 1 minute For home purchasing purposes, an escrow period refers to a period of time when the funds and documents necessary to fulfill a homebuying contract are…
A contingency is a section in a real estate contract, set by either the homebuyer or seller, that outlines a condition that must be met before the contract can be fulfilled. Many…
An earnest money deposit, often just called earnest money, is an amount of cash that a potential buyer agrees to pay soon after their offer on a home is accepted. It’s provided as a…
Estimated reading time: 3 minutes As the tax season begins, the Mr. Cooper team is here to help you start it off right. Here’s a quick look at what to expect and when. Key…
Estimated reading time: 5 minutes There were more than 18 million veterans in the U.S. in 2023, according to the Department of Veterans Affairs (VA). If you’re one, there…
Estimated reading time: 6 minutes Whether you’ve just bought a home and wish you could have gotten a lower payment or have had a mortgage payment for years, there are ways to…