How much is the “working capital” amount for my home?
The working capital amount for your home needs to be able to cover 2 months of regular monthly bills (the previous month + the current month until working capital has been replenished). Although the required amount may change over time depending on the expenses for your actual home, we have started with the following amounts:
- 1-3 bedrooms: $600
- 4-5 bedrooms: $1000
- 6-9 bedrooms: :$2000
- 10+ bedrooms: $2500
If you have exceptional expenses (like AC replacement, Appliance replacement, etc), additional working capital may be required before the purchase can be approved.
