Cash to close

Cash to close is a total on the Loan Estimate and Closing Disclosure, not a single fee. It answers how much money must be available at the closing table after credits and prepaid items are applied. Closing costs are one part of that picture. They are not the whole figure.

Fannie Mae’s consumer glossary describes cash to close as the amount needed at closing. It is a disclosure total, not a statutory fee schedule.

Borrowers who treat cash to close as a synonym for closing costs can understate the funds they must gather.

Riley’s disclosure adds the down payment and closing charges, then subtracts credits. The result is cash to close. Changing one line can change the total without renaming closing costs.

• Closing costs

• Closing costs