Cash to close = the amount you need to bring to closing to complete your home purchase.
Knowing this number ahead of time helps you avoid surprises.
Your total may include:
Down Payment
The portion of the purchase price you pay upfront.
Closing Costs
Fees such as:
Prepaid Expenses
Amounts collected upfront for things like:
Minus Credits & Deposits
Your cash to close may be reduced by:
$300,000 Home
| Cost | Amount |
|---|---|
| Down payment (10%) | $30,000 |
| Closing costs | + $7,500 |
| Prepaid expenses | + $2,000 |
| Earnest money already paid | − $5,000 |
| Estimated Cash to Close | $34,500 |
Down Payment
+ Closing Costs
+ Prepaids & Other Costs
− Earnest Money & Credits
= 💰 Cash to Close
Important: Your actual cash to close will depend on your specific loan, purchase price, closing costs, credits, and other adjustments.
Cash to close is not the same as your monthly payment.
Your ongoing monthly expenses may include:
Be sure to budget for both your upfront costs and ongoing expenses.
Plan for your down payment, closing costs, and other expenses.
You may qualify for programs that can help with down payment or closing costs.
Your mortgage loan officer can explain whether seller or lender credits may be available.
Your final Loan Estimate and Closing Disclosure will provide important details about your actual costs.
Don't wait until closing to find out how much money you'll need.
Understanding your cash to close early allows you to:
Plan → Save → Prepare → Buy With Confidence
Your mortgage loan officer can help you understand your specific numbers and answer questions about your options.
Let's look at your home-buying goals and estimate what you may need to bring to closing!