Planning for the full transaction—and for life after closing—helps prevent avoidable stress.
Down payment
Your down payment is the portion of the purchase price not financed by the base loan, subject to the program, occupancy, property, and borrower qualifications.
Closing costs
These may include lender, title, settlement, recording, appraisal, and other transaction charges. The amount and who pays them depend on the contract, program limits, and final loan structure.
Prepaid items and escrow funding
Homeowners insurance premiums, property tax escrows, prepaid interest, and initial escrow deposits are not the same as lender fees, but they can be part of the cash needed at closing.
Credits, deposits, gifts, and reserves
Earnest-money deposits and allowable credits can affect the final amount due. Eligible gift funds may be usable with required documentation. Some transactions require reserves, and keeping an emergency cushion is often wise even when not required.
This material is general in nature and is not individualized financial, legal, or tax advice or a commitment to lend. Mortgage programs and guidelines change. Your options depend on a complete application and review of supporting documentation.