Down payment
The down payment is the portion of the purchase price not financed by the base loan. It is only one component of the total funds required and can vary by program, occupancy, credit profile and property details.
Closing costs
Closing costs may include lender and settlement services, appraisal, title-related charges, recording costs and other third-party services. Actual costs depend on the transaction and are disclosed during the loan process; a generic website example is not a quote.
Prepaid items and escrow funding
Prepaid interest, the first homeowners-insurance premium and initial tax or insurance reserves are timing-related amounts rather than lender fees. Closing date, tax schedules and insurance due dates can affect them.
Credits and deposits
Earnest money already deposited is generally credited toward the final amount due. Eligible seller, lender or interested-party credits may offset allowed costs but are subject to program limits and usually cannot create unrestricted cash back to the buyer.
Protect the final transfer
Wire fraud is a serious risk. Verify instructions directly with the settlement provider using a known phone number, never rely on last-minute emailed changes and confirm the transfer process well before closing day.
This guide is not financial, tax or legal advice; a commitment to lend; or a statement of available loan terms. Program requirements, costs and availability vary, and all loans are subject to applicable underwriting and approval.