Understanding cash on hand

Man with cash in hands SouthPoint Home Mortgage in Sleepy Eye Springfield New Ulm St Peter Mankato Hutchinson Waconia

Recently, I was reading an article outlining the amount of cash needed to buy a house. To be honest, as a mortgage loan processor, the word “cash” makes me nervous! Using cash on hand for your down payment and closing costs, may cause a closing delay and/or additional documentation needed. That’s because for final loan…

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