What are reserves for a mortgage?
They’re a financial cushion to meet your monthly payments. But what makes them mandatory?
5 min read
May 02, 2025
Mia Taylor
Contributing Writer
EXPERTISE
- Real estate and mortgages
- Consumer loans
- Small business loans
- Home equity loans
- Insurance
- Credit cards
EDUCATION
- Master's degree in Journalism and Media Studies, San Diego State University
Mia Taylor is a contributor to Bankrate and an award-winning journalist who has two decades of experience. She has worked as a staff reporter or contributor for some of the nation's leading newspapers and websites including The Atlanta Journal-Constitution, the San Diego Union-Tribune, TheStreet, MSN and Credit.com.
Mia's latest articles
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Will student loans take my tax refund?
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Usually, no. But you still need to have some cash on hand at the closing.
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Yes, non-citizens can buy a home in the U.S., though the process can be complicated.
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Your lender could cap, cut or even close your credit line. Here’s what to expect and how to prepare.
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Real estate commissions in New York state: What to expect
A breakdown of real estate agent commissions in New York state.
5 min read Apr 10, 2025