Down payment
The portion of the purchase price paid from permitted funds rather than financed by the first mortgage. Required amounts vary by the complete scenario and program.
The down payment is only one part of the upfront plan. A Loan Estimate can also show lender and third-party costs, prepaid items, initial escrow deposits, credits, deposits already paid, and the resulting estimated cash to close.
Closing costs
May include lender charges, appraisal and settlement services, title-related charges, recording fees, and other transaction-specific items.
Prepaids and escrow
Property taxes, homeowners insurance, interest, and initial escrow funding can affect the amount due even though they are not all lender fees.
Estimated cash to close
A calculation on the Loan Estimate that combines the down payment and closing-cost categories with applicable deposits, credits, and adjustments.
Start with a personal planning conversation.
Share your goals, property, and timing with Brenda before narrowing the financing path.
Sources and related resources
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