Get Your Down Payment & Closing Funds Ready
As closing approaches, it’s time to line up your down payment and closing costs. Plan for your down payment plus roughly 3% of the purchase price in cash for closing costs.
Gifts & Which Account to Use
- If any funds are gifted by family, tell your loan officer right away so underwriting can approve and document them.
- Move all funds into one account you’ll use for closing. Disclose this account to your lender so funds can be tracked.
How & When You’ll Receive the Final Amount
One business day before closing, your lender or attorney will email a close estimate and wire instructions. Title companies often can’t finalize figures until then.
- Amounts under $50,000 can usually be paid by cashier’s check; amounts over $50,000 must be wire transferred.
- Expect to send an extra $1,000–$2,000 above the estimate to cover last-minute adjustments. Any overage is refunded at closing.
- Wire the funds the day before closing—title cannot accept them same-day.
- If final figures aren’t ready by day’s end, your lender will provide an estimate to use for the wire.
Call Your Bank Now (Wire Logistics)
- Ask how to initiate a wire transfer (many banks require an in-person visit).
- Confirm the bank’s wire cutoff time (often ~4:00 PM) and plan accordingly for the day before closing.
- After you wire, email us, your attorney, and your loan officer so we can confirm receipt with the title company.
- Let your employer know you may need to step out briefly the day before closing to complete the wire.
Wire Fraud Alert
Scammers target real-estate closings with fake wiring instructions.
- Only follow wire instructions sent by us, your lender, or your attorney.
- Wire instructions do not change. If you receive “updated” instructions, call the title company using a known phone number to verify.
Any extra funds you wired will be refunded to you at closing.
Step 24 to Buying a Home: Wrapping Things Up


