Mortgage Glossary
Cash to Close
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Cash to close is the total amount a buyer must bring to the closing table, including the down payment, closing costs, and prepaids, minus any credits and earnest money.
What Cash to Close means
It is the single most important number for budgeting a purchase. The Closing Disclosure states the exact cash to close at least three business days before closing. Seller credits, lender credits, and your deposit all reduce it.
Florida example
A Tampa buyer's cash to close was $42,500: a $35,000 down payment plus $11,000 in costs and prepaids, reduced by a $3,500 earnest deposit already paid.
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