Buying a home is one of the most important financial decisions you’ll ever make — and understanding the mortgage process is key to making confident, informed choices.
This post explains how lenders calculate post-closing reserve requirements under conventional (conforming) guidelines, and how FHA, VA, jumbo, and Non-QM programs differ. Reserve rules vary by lender overlay, so figures here reflect agency minimums — always confirm current requirements with your loan officer before making financial plans.
What “reserves” actually means
When underwriters talk about reserves, they’re not talking about your down payment or closing costs — those are separate. Reserves are the liquid assets you’d have left after your loan closes: money in the bank that could cover your mortgage payment if your income disappeared tomorrow. [Read more…]
With affordability tight across King, Pierce, and Snohomish counties, I’m seeing more buyers team up with someone other than a spouse or partner — roommates who decide renting no longer pencils out, adult siblings splitting an investment property, or longtime friends going in together on a home. If that’s you, Washington’s vesting rules are the same ones that apply to any unmarried co-buyers, but the practical questions around exit strategy and unequal contributions tend to matter even more when there isn’t a relationship holding things together. 
This is a companion piece to my post on 
If you’re a first-time homebuyer in 
This is a question I get more often than you’d think, and the answer surprises most people: a bankruptcy doesn’t permanently disqualify you from getting a mortgage and depending on the type of bankruptcy you filed and which loan program you use, you may be eligible sooner than you’d expect — in some cases, before your bankruptcy is even fully discharged.
