Does Conventional 5% down require 3 months of future payments in bank account to close?

Hi Bruce, The future payments you refer to are called reserves and they are not required on most primary residence home purchases or refinances. On certain property types (second homes, investment properties, 2-4 units homes, etc.), they are almost always required. This may also vary lender to lender depending on their guideline overlays, but Fannie and Freddie don't explicitly require reserves on primary purchase loans as a general rule (they may be required by automated approval with other factors present). I know that sounds like a complicated answer, but really it's just a long-winded way of saying "mostly no".