Phrases with «escrow reserves»

The phrase "escrow reserves" refers to money or assets that are set aside and held in a special account by a third party, a.k.a. an escrow agent, until certain conditions are met. These reserves act as a safety net or guarantee that can be used to cover any potential costs or losses that may arise in a transaction or agreement. Full definition

Sentences with «escrow reserves»

  • Yes, mortgage balances can be increased to cover closing costs in addition to other monies due at closing such as escrow reserves, accrued daily interest, and a small amount of cash. (themortgagereports.com)
  • With the FHA One - Time Close Loan, homebuyers can also take advantage of the agency's lenient qualifications, such as easy credit qualifying for scores, more flexible guidelines for homebuyers» work histories, small escrow reserve requirements, and debt - to - income ratios up to 50 percent. (fha.com)
  • However, it's important to note that Citi's online tool will list costs such as escrow reserves which may inflate its estimated closing costs versus other lenders. (valuepenguin.com)
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