Down Payment-vs-Closing Costs, Know the Difference
Posted by Tom Gile on Monday, May 15, 2023 at 3:44:53 PM By Tom Gile / May 15, 2023 Comment
𝑫𝒐𝒘𝒏𝒑𝒂𝒚𝒎𝒆𝒏𝒕 is how much money you put down on your home. This makes the difference between the purchase price of the home and your loan amount.
BUT to 𝒄𝒍𝒐𝒔𝒆. . .you will have some additional fees like closing costs, title fees, insurance, and taxes. So, when you are saving and looking at homes, make sure you have enough aside to cover all of these costs, not just your downpayment.
A mortgage lender can help you determine what price range to look in and what your downpayment and closing costs will look like and we can help you find a home!
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