Cash to close
The total amount the buyer must bring to closing, usually the down payment plus closing costs minus earnest money and any credits. The final figure is on the Closing Disclosure.
Also called: funds to close, cash due at closing, amount due at closing
Related terms
Fees and charges paid at closing on top of the price, such as lender fees, title insurance, recording fees, taxes and prepaid items. Buyers often pay around 2% to 5% of the price; sellers pay their own set of costs.
The final form showing the loan terms, payment and every closing cost, which the borrower must receive at least three business days before closing. Compare it with the Loan Estimate for changes.
The part of the purchase price you pay in cash rather than borrow. A larger down payment lowers the loan amount and can remove the need for mortgage insurance on a conventional loan.
A deposit the buyer puts down after the offer is accepted to show they are serious. It is held in escrow or a trust account and usually goes toward the down payment or closing costs at closing.
A scam where criminals send fake wiring instructions, often by spoofed email, to steal closing funds. Always confirm wire details by calling a known phone number before sending money.