What is the minimum amount of the MRF that must be liquid at qualification?

The minimum amount of the MRF, or Minimum Reserve Fund, that must be liquid at the time of qualification is $2,500. This amount is established to ensure that the buyer has sufficient funds readily available to cover any initial expenses related to homeownership, such as closing costs or emergency repairs after purchase. The focus on liquidity emphasizes the importance of having cash that is easily accessible, which can significantly contribute to the financial stability of the buyer during the transition to homeownership. This requirement serves as a safeguard that assists in ensuring prospective homeowners are adequately prepared for the responsibilities they are about to undertake.