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Glossary of Terms > R > RESERVES

RESERVES

The cash a borrower must have after making a down payment and paying all closing costs for the purchase of a home. The principal, interest, taxes and insurance (PITI) "reserves" must equal the amount of PITI that the borrower would pay over a predefined number of months - usually two or three.

R Terms

REAL ESTATE

REAL ESTATE AGENT

REAL ESTATE DEVELOPER

REAL ESTATE INVESTMENT TRUST

REALTOR

RECORDER

REFINANCING

REINSURANCE

REMAINING TERM

RENTER'S INSURANCE

RESERVES

REVERSE MORTGAGE

REVOLVING DEBT

RIGHT OF FIRST REFUSAL

RIGHT OF INGRESS