The down payment is only one part of the cash needed to buy a home. Closing costs and prepaid items depend on the property, loan, insurance, taxes, title arrangements, contract credits and closing date.
Loan-related costs
These can include appraisal, credit, underwriting, processing, discount points and other lender charges shown on the Loan Estimate.
Title and settlement
Title search, title insurance, recording, settlement services and related charges vary by location, provider and contract.
Insurance and taxes
Florida homeowners insurance, flood insurance when required, property taxes and assessments can materially affect both cash needed and monthly payment.
Prepaids and escrow funding
Interest from closing through month-end, initial insurance premiums and escrow reserves may be collected at closing.
Credits and assistance
Negotiated seller credits, lender credits and eligible assistance may reduce out-of-pocket costs but can affect price, rate, loan structure or contract strategy.
Compare correctly
Review both the interest rate and total loan costs. A lower rate obtained through points is not automatically better if the expected time in the loan is short.
Published by The Rice Financial Group. Reviewed August 4, 2026. Mortgage requirements change; confirm current guidance for your transaction.