What do YOU Pay?

Funds to Close = Down Payment + Closing Cost + Pre-Pays + Escrows - Credits.


Down Payment

  • The amount the buyer is putting down towards the total cost of the home.

  • Each loan type will have a minimal amount but the buyer can put down as much over the minimal as desired.

Closing Costs

  • Cost of creating and closing the loan, which include the appraisal, title, insurance, attorney, lender, county, and city fees.  

Pre-Pays 

  • Funds collected at time of closing for future payments. 

  • This typically includes: 

    • One-year's home owner's insurance policy.

    • Days of interest for the month of closing.

    • Funds to populate the escrow account for taxes and insurance.

Credits

  • Seller concession as negociated in the contract.

  • Earnest money paid by buyer to seller at time of contract.

  • Any other funds credited the buyer.

Out of Your Pocket before closing?

  • Earnest money.  This is good faith determined in negotiations with your offer.

  • Appraisal fee which is collected by my staff for the appraisal management company. See "Appraisals" for price estimate.

  • Home inspections (structural, HVAC, Radon, etc.), these are optional.