Bought fixer with cash, but want to get a mortgage, do cash reserve requirements apply to me?

[Jason Hillier]

Hi mortgage pros,

I bought my first fixer-upper with cash, now that the remodel is nearly complete, I'm looking to get a mortgage on the house. I'm wondering if cash reserve requirements apply to me? Once the loan closes, I would have plenty of cash, so I was wondering how my current liquid assets are factored in to the mortgage application.

Thanks!

[Joel Owens]

Yeah what's that saying??

A banker/lender will be running to you to give an umbrella when the sun is out but take it away as soon as it starts raining! lol