Loan Estimate: How much cash to close?

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This guy's good. Hey, it's Holden.

The "Costs at Closing" section at the bottom of Page 1 will show you the amount of money you can expect to shell out at closing. And the "Calculating Cash to Close" section on Page 2 will give you an itemized breakdown of what makes up those costs.

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How big a check will you have to write at the closing table? Or, in the lingo of the mortgage industry, what's the "cash to close?" The Loan Estimate lists the cash to close amount in 2 places:

At the bottom of Page 1, in the "Costs at Closing" section. This is the bottom-line number.

Loan Estimate form, page 1

Page 1 of Loan Estimate form

In the "Calculating Cash to Close" section on Page 2. This lists the various categories of fees, costs and credits that add up to the cash to close.

The categories listed in the "Calculating Cash to Close" section may include:

  • The total closing costs.
  • Minus any closing costs that are rolled into the loan amount.
  • Plus the down payment (or, in a "cash-in refinance," money paid by the borrower to decrease the loan amount).
  • Minus the deposit the homebuyer made when the offer was accepted.
  • Minus seller credits.
  • Plus or minus adjustments, refunds for overpayments and other credits.

For more, read "What to expect when you're closing."

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