Cash to close
Down payments
How much cash, from where, and what still has to show up at closing.
Down payments
Down payments
People say “I have the down payment” when they mean they have some cash. Underwriting wants to know where it came from, whether it is seasoned, and what will be left after you close.
Ask before you move money between accounts, sell something, or accept a gift. The screenshot after the fact is a painful way to learn the rules.
01
Down payment reduces the loan amount. It is not the same as cash to close.
02
You also need closing costs and, on many files, reserves after you fund.
03
Every source needs a paper trail. Moving money without a story creates conditions.
04
Putting down less can mean mortgage insurance or different pricing. That can still be the right path.
Where the money can come from
Savings you already had
Statements that match the name on the loan, all pages, with a trail if large deposits appeared. Boring accounts close files.
Eligible gifts
Often allowed from eligible donors when documented before the money moves: gift letter, donor ability, proof of transfer. Ask first.
Sale of assets
A car, stock, or another property can fund a down payment when the sale is documented. Hope is not a settlement statement.
Assistance, where it actually exists
Some programs are tied to location, occupancy, and income. They have their own overlays. They are not a coupon on this website.
Lower down payment is not free
Putting down less can mean mortgage insurance, different pricing, or tighter residual-income tests. That can still be the right path if it keeps cash in reserve. It should be a conscious trade-off.
Twenty percent is mainly how many conventional files avoid PMI. It is not a moral line. It is also not required on every program.
From this guide
Common questions
Often, when the donor is eligible and the gift is documented. Ask before the money moves. A screenshot after the fact is a painful way to learn the rules.
Cash
Where it came from matters as much as the total.
Down payment, closing costs, reserves. Three numbers, one close.
Ready when you are
The house is the point.
Whether you’re buying your first home, moving into your next one, refinancing, or exploring your options, we’re here to help you figure out the next step.