08/30/2022
Sometimes also referred to as “funds to close”, cash to close is the amount of money required to complete the transaction of buying a house (don’t worry, it doesn’t need to be cash). Your down payment plus your closing costs make up the majority of what you need to close on a mortgage, minus any credits from the seller or earnest money you’ve already deposited. Include any fees in your closing costs as part of your calculations. A good rule of thumb to estimating closing costs and cash to close is to expect them to cost between 2-5% of the home’s price.