ACHIEVE BUYER TOOL
Know How Much Cash
You May Need To Close.
Estimate your down payment, closing costs, prepaid expenses, escrow reserves, deposits and credits to get a clearer picture of the total cash you may need to purchase your home.
START CALCULATINGNo sign-up required. For planning purposes only.
BUILD YOUR ESTIMATE
Enter The Details
Of Your Purchase.
Start with the numbers you know. Leave anything you are unsure about blank for now — you can come back and adjust the estimate at any time.
YOUR ESTIMATE
Estimated Cash-to-Close
Statement.
Your figures will update here based on the information entered above.
THE ACHIEVE TEAM
Estimated Cash-to-Close Statement
This estimate is provided for planning purposes only. It is not a Closing Disclosure, settlement statement, loan estimate or guarantee of closing costs. Actual charges, financing, deposits, credits, insurance, taxes and prorations will be determined by the lender, closing agent or title company.
KEEP YOUR ESTIMATE
Print Or Save Your Buyer Estimate.
Print your estimate or save a PDF copy for future reference.
UNDERSTANDING THE NUMBERS
What Goes Into
Your Cash To Close?
Your down payment is only one part of the money you may need to purchase a home. Closing costs, prepaid expenses, association requirements, deposits and available credits can all affect the final amount required at closing.
Down Payment
The portion of the purchase price you plan to pay with your own funds rather than finance through your mortgage.
Buyer Closing Costs
Lender charges, appraisal costs, title fees, settlement charges, recording costs and other transaction expenses can increase the amount needed.
Prepaids & Escrow
Insurance, property taxes, prepaid interest and initial escrow reserves may need to be funded before or at closing.
HOA & Condo Costs
Application fees, capital contributions, prepaid association dues, assessments and transfer charges may also affect cash to close.
Deposits Already Paid
Earnest-money and additional contract deposits are generally credited toward your purchase and reduce the amount still due.
Credits & Assistance
Seller credits, lender credits and eligible assistance programs may reduce certain costs and lower your remaining cash requirement.
Cash to close reflects the complete transaction picture: your purchase price and financing, closing expenses, prepaids, association costs, deposits and applicable credits. Final figures are determined by your lender and closing agent.
WHAT CHANGES THE NUMBER
What Can Raise Or Lower
Your Cash To Close?
Two buyers purchasing homes at the same price can have very different cash requirements. Financing, closing expenses, deposits, association charges and available credits can all change the final number.
Higher Cash Requirements
Increasing the portion of the purchase price paid in cash increases the amount you need to fund at closing.
Lender, title, settlement, recording and other transaction charges can add to the total cash requirement.
Prepaid insurance, taxes, interest and initial escrow reserves may require additional funds before closing.
Application fees, capital contributions, prepaid dues and assessments can increase the amount required.
Lower Remaining Cash Needed
Funds already deposited toward the purchase can reduce the amount still remaining to be paid at closing.
Additional deposits previously paid may also be credited toward the funds required for the transaction.
Applicable transaction credits may offset certain eligible expenses and reduce the remaining cash requirement.
Eligible down-payment or closing-cost assistance may reduce the amount a buyer must provide from personal funds.
Looking at the complete transaction is why this calculator separates your down payment, financing, closing costs, prepaids, property-related charges, deposits and credits instead of relying on a simple percentage of the purchase price.
PLAN YOUR NEXT MOVE
Use The Estimate
To Plan With Confidence.
Knowing the approximate amount of cash needed before you make an offer can help you evaluate financing, protect your reserves and avoid surprises later in the transaction.
Compare The Estimate With Your Available Funds
Look beyond whether you can technically cover the down payment. Compare the full estimated cash-to-close amount with the funds you actually plan to have available for the purchase.
Keep A Reserve After Closing
Avoid planning to use every available dollar. Moving expenses, repairs, furnishings, insurance changes and unexpected ownership costs can arise shortly after closing.
Review The Financing Structure
A different down-payment amount or loan structure can change both the cash required at closing and your ongoing monthly housing cost. Review both sides of the decision.
Verify Credits Before Relying On Them
Seller credits, lender credits and assistance programs may be subject to contract terms, financing rules and eligibility requirements. Do not assume every credit can be used exactly as entered.
Update The Estimate As The Transaction Develops
Once you receive more accurate lender, insurance, title, association and closing figures, return to the calculator and replace estimates with the actual numbers you know.
A strong purchase plan considers your total cash requirement, monthly housing cost and the reserves you want to keep after the transaction is complete.
FREQUENTLY ASKED QUESTIONS
Cash-To-Close
Questions Answered.
These are some of the most common questions buyers have when estimating how much money may be needed to complete a home purchase.
Is cash to close the same as my down payment?
No. Your down payment is only one component. Cash to close can also include lender charges, title and settlement costs, prepaid insurance, taxes, escrow reserves, association fees and other transaction expenses, less applicable deposits and credits.
Does my earnest money deposit reduce cash to close?
Generally, deposits already paid under the purchase contract are credited toward the transaction and reduce the remaining funds due at closing, subject to the final settlement figures.
Are closing costs included in my down payment?
Usually not. The down payment applies toward the purchase price, while closing costs represent separate expenses associated with financing, title, settlement and completing the transaction.
Can seller credits reduce the money I need at closing?
They may. Seller credits can sometimes be used toward eligible buyer expenses, but the amount and permitted use can depend on the contract, loan program and lender requirements.
Why are prepaid expenses part of cash to close?
Certain expenses may need to be funded in advance. Examples can include homeowners insurance, flood insurance, prepaid mortgage interest, property taxes and initial escrow reserves.
Can HOA or condo fees be due at closing?
Yes. Depending on the property and association, buyers may encounter application fees, capital contributions, initiation fees, prepaid dues, transfer fees or assessments.
Will my final cash-to-close amount match this calculator?
Not necessarily. This calculator is an estimating and planning tool. Your final amount will depend on actual lender, title, insurance, tax, association, contract and closing figures.
When should I update my estimate?
Update it whenever you receive better information. Replacing estimates with actual lender fees, insurance premiums, title costs, association charges, deposits and credits will give you a clearer picture as closing approaches.
Use this calculator to plan ahead and ask better questions, then confirm the final numbers through the official loan and closing documents for your transaction.
NEXT STEPS
Turn Your Estimate
Into A Purchase Plan.
Once you have a clearer idea of the cash you may need, use that information to refine your financing, property search and overall buying strategy.
READY FOR THE NEXT STEP?
Know The Numbers.
Then Find The Right Home.
Your estimated cash to close is an important part of the buying picture. The Achieve Team can help you use those numbers to evaluate properties, plan your offer and move forward with a clearer South Florida home-buying strategy.
South Florida real estate guidance from Jupiter to Homestead.
THE ACHIEVE TEAM · MLS PROPERTY DISCOVERY
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