06/13/2026
Down payment vs. Closing Costs!🏡
Let’s talk about it!☺️
Your down payment is the money you put toward the purchase price of the home. Think of it as your skin in the game! It’s usually a percentage of the price—like 3%, 5%, or even 20%—depending on your loan type.
Closing costs, on the other hand, are all the extra fees to finalize the deal. This includes lender fees, title insurance, home inspections, and more. They usually add up to about 2-5% of the home's price.
So, if you're buying a $300,000 home, a 3% down payment is $9,000. But closing costs could be another $6,000 to $15,000—so you need to budget for both!
If you’re not sure how much you’ll need or want to explore ways to reduce these costs, send me a message! I’d love to help you plan your homebuying journey.
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Lakema Byas- REALTOR®️
Say Yes To The Nest LLC
KW- Husted Team
843-991-4359
[email protected]
www.sayyestothenest.com
