How do I send money prior to closing?

When all is said and done, buying a home is unlike any other transaction you’ll ever experience—large sums of money are exchanged between sellers, buyers, lenders, and various third parties like attorneys, home inspectors, and real estate agents. You’ll need to make preparations to finalize everything at the closing table, and that includes delivering your payment when you sign on the dotted line.

“Cash to close'' is the total amount of money you’ll owe on closing day. Keep in mind that this is different from your closing costs, which are just the fees paid to your lender when closing on your loan. Cash to close is the full amount you owe at the closing table including closing costs, down payment, and third party fees. This figure will be shared ahead of time in your Closing Disclosure, so you have a chance to get the funds together.

The total amount of your closing costs and the rules of your title company can play a part in determining the payment method you’re required to use. Secure payments can be made via a cashier’s check, certified funds, or wire transfer. Check with your loan team in advance to confirm what your options are for sending the payment. No matter which approved payment method you choose, be sure to prepare everything prior to closing so that the final transaction goes smoothly.

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More resources

• What’s included in closing costs?
• Are there closing costs when refinancing?
• Questions to ask your mortgage lender