Published October 16, 2026 · General educational guidance
Your down payment is only one category
When buying a Georgia home, it is easy to focus on the down payment and overlook other cash requirements. Closing charges, prepaids and expenses paid during the process affect what you need available. There is no single dollar figure that applies to every transaction because loan terms, property details and negotiated arrangements vary.
Start with four categories: down payment, transaction charges, expenses paid before closing and a reserve for moving and ownership. Request case-specific estimates and mark unknown amounts as [[AMOUNT – VERIFY]]. A documented budget is more useful than a general percentage that does not explain which expenses it includes.
Review lender charges consistently
Ask the lender to explain origination and other charges in the proposal. Compare totals as well as individual labels because institutions may group charges differently. Ask whether points are included to obtain the proposed rate and how the offer would change with a different combination of rate and upfront cost.
Use the Loan Estimate to review the proposed loan. When comparing lenders, keep the purchase price, down payment, term and timing as consistent as possible. A lower upfront charge may accompany a different interest rate. Consider how the overall proposal fits your budget and plans rather than selecting one favorable line item.
Distinguish services from prepaids
The transaction may involve appraisal, title, recording and other services. Confirm the applicable charges with the lender and closing professional and ask which providers you may compare. Do not assume every charge is negotiable or that every purchase uses the same services and pricing.
Prepaids and initial escrow funding have a different purpose from professional fees. Depending on the transaction, they may involve insurance, interest or taxes. Ask what period each amount covers and what you will still need to pay directly later. The distinction helps you understand both closing and future ownership expenses.
Understand the cash-to-close calculation
Cash to close may combine the down payment and charges with adjustments for deposits already paid, credits and other items. Do not add categories without checking whether a payment is already counted. Request a clear reconciliation and keep receipts for deposits so you can follow the calculation.
If you negotiate seller contributions, ask the lender about limits and permitted uses. A credit does not automatically become unrestricted cash. Lender credits may also involve a rate tradeoff. Have the lender explain the actual proposal before treating credits as a solution to a budget shortfall.
Preserve a reserve and verify final instructions
Budget separately for inspections, moving and immediate property needs. If you are considering Georgia Dream assistance, confirm the current product, eligibility, availability and repayment conditions with DCA and a participating lender. Do not include assistance as guaranteed cash before it is confirmed for your application.
Review the Closing Disclosure against previous estimates and ask about changes in charges, rate or required cash. Confirm transfer instructions with the closing professional using a known number rather than an unexpected email. Jennifer Echeverry can coordinate property-related questions at 917-474-1125; your lender and closing professionals must confirm the final transaction figures.
Sources and next steps
Program terms, legal requirements, pricing and availability may change. Verify financing with a licensed lender and legal or tax questions with the relevant qualified professional.
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