Mortgage Reserves: How Much You Need & Where They Come From

July 23, 2026 by 3 Comments

what are reservesThis 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…]

Filed Under: Credit & Financial Strategy, Home Buying Tagged With: , , ,

Where Can Funds for Closing Come From? | Washington Home Buyers

April 30, 2026 by 1 Comment

Funds for Closing when buying a home in WAWhen you’re buying a home with a mortgage, your lender needs to know where every dollar used for the down payment, closing costs, and reserves is coming from. This isn’t optional — it’s a federal requirement, and it applies regardless of loan program. The lender has to document, verify, and approve the source of your funds before your loan can close.

This guide covers what counts as an acceptable source of funds for closing in Washington State, what documentation is typically required, and a few sources that won’t fly with lenders — no matter how legitimate they feel to you. [Read more…]

Filed Under: Home Buying Tagged With: , ,

Using Gift Funds for a Down Payment in Washington State: What You Need to Know

March 27, 2026 by 1 Comment

Gift Funds for Washington state homebuyersOne of the most common ways home buyers get help with a down payment is through gift funds from family members. If your parents, grandparents, or other relatives want to help you buy a home, gift funds can be a legitimate and well-documented source of funds for down payment and closing costs — as long as you follow the rules.

Here’s what you need to know about using gift funds for a mortgage in Washington State, including how requirements differ by loan program and what documentation is required. [Read more…]

Filed Under: Home Buying Tagged With: , , ,

How Much Money Do You Need to Buy a Home: Workshop Replay

January 16, 2026 by Leave a Comment

Homebuyer Workshop Rhonda Porter Mortgage SeattleHow Much Money Do You Need to Buy a Home?

Down payment, closing costs, and real-world ways to make homeownership possible

One of the biggest myths about buying a home is that you “need 20% down.” In reality, many buyers can purchase with far less—and sometimes with little to no out-of-pocket funds, depending on the loan program, down payment assistance options, and whether the seller contributes toward closing costs.

In this workshop replay, I break down the real costs of buying a home, when those costs show up during the transaction, and the most common (and acceptable) ways to source your funds—so you can plan with confidence. [Read more…]

Filed Under: Home Buying Tagged With: , , , ,

Using Cryptocurrency for a Down Payment

June 7, 2022 by 1 Comment

using crypto to buy a home Cryptocurrency has come a long way since 2022—and so have the rules around using it to buy a home. If you’ve built wealth in Bitcoin, Ethereum, or other digital assets, you may be wondering whether that wealth can help you get into a house. The short answer: yes, with the right documentation—and in some cases, without even selling your crypto.

This post breaks down exactly what’s allowed today, what’s new as of 2025 and 2026, and what Washington State homebuyers need to know before relying on crypto for a [Read more…]
Filed Under: Home Buying Tagged With: , , , , ,
Next Page »