Reserves

Liquid assets you have remaining after closing, expressed in months of housing payments. Lenders verify reserves to confirm ability to weather hardship.

Reserves are liquid assets (savings, checking, brokerage, retirement) remaining after down payment and closing costs are paid. Measured in months of PITIA payments. Conventional typically requires 0-2 months on primary residence, 6+ months on investment property. Jumbo and second-home programs require 6-12 months. Foreign-national and asset-qualifying programs may require 12+ months. Higher reserves help with rate pricing and exception cases.