How much money should I keep after closing?

The short answer

Aim for three to six months of full housing payments, plus a separate first year fund for the small things a new home asks for.

4 min read

What lenders require

Some loans require documented reserves, measured in months of the housing payment. Investment properties and multi unit purchases usually require the most, and primary residences with strong files sometimes require none.

Meeting the requirement is the floor, not the plan.

What life requires

The first year of ownership has a predictable rhythm of unpredictable expenses. A water heater, a tree limb, a dishwasher, a set of blinds for windows you did not measure.

Buyers who keep a cushion describe their first year as fun. Buyers who spend to the last dollar describe it as tense. The house is the same house.

Corie Adams Lending Team

Corie Adams
Producing Branch Manager · NMLS #1875205
Network Funding, LP · NMLS ID #2297

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Corie Adams Lending Team is a branch of Network Funding, LP. Network Funding, LP, NMLS ID #2297, is an Equal Housing Opportunity Lender. Licensing and state disclosures are available through Disclosures & Licensing and NMLS Consumer Access (www.nmlsconsumeraccess.org). This website is not a commitment to lend. Rates, programs, payments, and qualification requirements are subject to change without notice and may vary based on individual circumstances.

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Payment examples shown on this site are illustrative only.