How Much Money Do I Need to Bring to Closing?

Mortgage and Lending with Guaranteed Rate NMLS# 2611 NMLS #151088

How Much Money Do I Need to Bring to Closing? 

This is a question that gets asked early on with every closing.  The reality is that its too early to have an exact amount.  At the time of your loan application, you are provided with an estimate that details your total estimated settlement charges.  This is your best estimate that is available. 

The lender fees from the estimate should not change.  Once the actual closing attorney/title company fees are available, they will then be updated on the estimate.  The closing attorney/title company will also provide the actual property tax amount.  It is the borrower's responsibly to obtain the quote for their home owner's insurance premium. 

Once the loan have been approved and all outstanding conditions satisfied, the loan will be clear to close.  From that point, the file will be moved to the mortgage company's closing department.  The closer will prepare the closing instructions and send them to the closing attorney/title company's office.  Their closer will then prepare the HUD Settlement Statement.  Once the HUD has been reviewed for correctness, a copy will be provided to all parties.  At this time, the final amount needed to close will be available.  This typically only happens 1-3 business days prior to the actual closing date. 

It is important to remember that your funds for closing will need to be in the form a cashier's/certified check or they can be wired directly into the closing attorney/title company's escrow account.  Some may accept a personal check, but the amount generally cannot exceed $500-1,000.  The requirements do vary from office to office though so it is important to verify on individual requirements.   




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It is always advisable to consult with a knowledgeable lending professional when navigating today's turbulent mortgage and real estate marketplace.  I am committed, qualified and equipped to help you evaluate your options!


Also check out:

Conventional Financing Mortgage Program Overview/Updates

FHA Financing Mortgage Program Overview/Updates

USDA Financing Mortgage Program Updates  


Programs Include:


  • Conventional (Fannie Mae & Freddie Mac)

  • FHA, USDA, & VA

  • Jumbo to $3,000,000

  • Bank Statement Program for Self-Employed Borrowers

  • Foreign National Program

  • Investor Cash Flow

  • Non-Warrantable Condos

  • Renovation - FHA 203(k), Fannie Mae HomeStyle Renovation, & VA Renovation


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  • Rodney Mason is a Licensed Branch Manager located in Atlanta, GA.   He can be reached at (404) 591-2453.
  • Providing financing for all cities across Georgia including: Acworth, Albany, Alpharetta, Athens, Atlanta, Augusta, Austell, Avondale Estates, Blairsville, Bloomingdale, Blue Ridge, Bogart, Brunswick, Buckhead, Buford, Canton, Carrollton, Cartersville, Chatsworth, Clayton, College Park, Columbus, Commerce, Conyers, Covington, Cumming, Dahlonega,  Dacula, Dalton, Dawsonville, Decatur, Doraville, Douglasville, Duluth, Dunwoody, East Point, Fayetteville, Flowery Branch, Gainesville, Greensboro, Hampton,  Hapeville, Hinesville, Hiram, Jackson, Jefferson, Jonesboro, Kennesaw, Lagrange, Lawrenceville, Lilburn, Lithia Springs, Macon, Madison, Metter, Morganton, Morrow, Newnan, Norcross, Oakwood, Peachtree City, Pooler, Richmond Hill, Riverdale, Rome, Roswell, Sandy Springs, Savannah, Scottdale, Statesboro, Stockbridge, Stone Mountain, St Marys, Sugar Hill, Suwanee, Thomasville, Thunderbolt, Tucker, Tybee Island, Valdosta, Waleska, Warner Robins, Waycross, Wilmington Island, Winder, Woodstock, and many more.

    Providing financing for all cities across Alabama including:
    Alabama Port, Anniston, Athens, Auburn, Bessemer, Birmingham, Boaz, Bridgeport, Cedar Bluff, Chickasaw, Clayton, Coden, Dauphin Island, Decatur, Dothan, Eufaula, Fairfield, Fairhope, Florence, Foley, Forestdale, Fort Morgan, Fort Payne,Gasden, Grand Bay, Gulf Shores, Heron Bay, Homewood, Hoover, Jasper, Josephine, Madison, Meadowbrook, Midfield, Mobile, Mon Louis, New Hope, Orange Beach, Oxford, Oyster Bay, Phenix City, Prichard, Rainbow City, Saraland, Satsuma, Scottsboro, Selma, Troy, Theodore, Tillmans Corner, Trussville, Tuscaloosa, Vestavia Hills, Warrior and many more.

  • Providing financing for all cities across Florida including: Altamonte Springs, Atlantic Beach, Boca Raton, Bradenton, Cape Coral, Clearwater, Coral Springs, Daytona Beach, Delray Beach, Destin, Fort Lauderdale, Fort Myers, Fort Walton Beach, Gainesville, Hollywood, Homestead, Jacksonville, Jupiter, Key Largo, Key West, Lake City, Largo, Marathon, Mexico Beach, Miami, Naples, New Smyra Beach, Ocala, Orlando, Palm Coast, Panama City Beach, Pensacola, Pompano Beach, Port St Joe, Sanibel Island, Sanford, Sarasota, St Augustine, St Petersburg, Tallahassee, Tampa, Vero Beach, West Palm Beach, & Winter Park, and many more.


  • Providing financing for all cities across South Carolina including: Aiken, Anderson, Beaufort, Bluffton, Charleston, Columbia, Conway, Edisto Island, Florence, Greenville, Hilton Head, Johns Island, Myrtle Beach, North Augusta, Orangeburg, Rock, Hill, Spartanburg, Sullivans Island, Summerville, and many more.  

    Providing financing for all cities across Tennessee including: Athens, Brentwood, Bristol, Chattanooga, Clarksville, Cleveland, Cookeville, Dyersburg, Franklin, Gatlinburg, Greeneville, Johnson City, Kingsport, Knoxville, Maryville, Memphis, Morristown, Murfreesboro, Nashville, Newport, Oak Ridge, Pigeon Forge, Sevierville, and many more


All mortgage lending guidelines are accurate at time of post, but are subject to change without notice.  Please call for the most current information.



Comments (6)

Andres Munar
Keystone Alliance Mortgage - State College, PA
Experience The Difference

I feel like I have this speech memorized. Clients are always asking from day 1 and I have to always repeat the same thing over and over. Next time i'll just send them to your blog :)

Jan 02, 2011 06:22 AM
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

Andres...You are so right.  I guess they think were are psychics.

Jan 02, 2011 06:38 AM
Jason M. Keith
Caliber Home Loans - Parker, CO
Equal Housing Lender

Rodney, great explanation here.  I know the GFE is going to once again make a change this year.  Maybe it will actually show the amount they need to bring to the table with accurate monthly payments including Taxes and Insurance?  Here's to hoping!

Jan 03, 2011 03:39 AM
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

Jason....I had not heard anythingabout HUD updating the GFE. Why the current one does not include cash to close is beyond me.

Jan 03, 2011 04:00 AM
Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTOR® - Charlottesville Virginia Homes / Horse

Rodney - This is a good explanation of why they can't have the exact numbers up front.

Jan 15, 2011 11:54 AM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains

I think buyers get really nervous about closing and just want to relieve a little stress by knowing the exact amount that's needed as soon as possible. Rodney, a video with you talking about this would be so cool on your website.

Jan 22, 2011 11:33 AM