understanding it
Total cash needed vs the wire
Cash to close is the amount you wire on closing day: your down payment plus closing costs, minus the earnest money you already deposited and any seller or lender credits. This calculator keeps two numbers separate on purpose. Total cash needed is what the purchase consumes: down payment plus closing costs. Cash to close is what is left for the wire after the money you already put in and the credits you negotiated. Conflating the two is the most common way buyers surprise themselves in the final week.
The lines, one at a time
The down payment is your equity going in: the price times your down percentage. Closing costs are everything it takes to manufacture the purchase around that equity: lender fees, title and escrow, recording and transfer taxes, and prepaid items like the first year of insurance and the initial escrow cushion. They are commonly quoted in the range of 2 to 5 percent of the price, varying by state and lender, which is why the field here is an editable estimate rather than a fixed truth. Your earnest money went into escrow when the contract was signed and is credited back against the total. A seller credit, if you negotiated one, offsets closing costs dollar for dollar.
Why the wire surprises people
Buyers plan the down payment for months and meet the closing costs in the final weeks. On a mid-priced home the costs line can rival a second car, and it does not shrink because your down payment is small. Going from 20% down to 10% down halves the equity line and leaves the costs line untouched. Run this number before you write the offer, not after the Loan Estimate arrives, and the last week of the purchase is arithmetic instead of a scramble.
Treat the estimate as an estimate
This page computes from a percentage you choose. The real, itemized figure comes from your lender: the Loan Estimate after you apply, and the Closing Disclosure at least three business days before you sign. When those documents arrive, replace this estimate with their number. Until then, the editable percentage keeps the planning honest without pretending to a precision no calculator has before a lender prices the loan.
Common questions
Is cash to close the same as the down payment?
No. The down payment is one line inside it. Cash to close adds closing costs on top of the down payment, then subtracts the earnest money you already deposited and any credits from the seller or lender. It is the amount your final wire has to cover.
What counts as closing costs?
Lender fees, title and escrow charges, government recording and transfer taxes, and prepaid items like the first year of homeowner's insurance and initial escrow deposits. Together they commonly run in the range of 2 to 5 percent of the price, which is why this tool uses an editable percentage estimate.
Where do I get the exact number?
From your lender. The Loan Estimate you receive after applying shows an itemized cash-to-close figure, and the Closing Disclosure you receive at least three business days before closing shows the final one. This calculator is for planning before those documents exist.
Does my earnest money come back to me?
It is already yours, applied. The earnest deposit you made when the offer was accepted sits in escrow and counts toward what you owe at closing, which is why this calculator subtracts it from the wire.