BUYER COSTS
Down payment guide for homebuyers
Learn how down payment conversations work, why source of funds matters, and how buyers can prepare without relying on one-size-fits-all promises.
What to understand first
Down payment basics
A down payment is one part of the cash picture, separate from other closing-related costs.
Source of funds
Savings, transfers, and gifts may require documentation depending on the program and timing.
Gift funds
If someone may help, ask early about documentation and timing expectations.
Practical considerations
No universal minimum here
Down payment expectations vary by program, property, borrower, and current requirements.
Assistance caution
Assistance programs can be local, time-sensitive, and subject to funding or rule changes.
Related resources
Ready to talk through your questions?
Schedule a call with East Coast Mortgage or keep exploring the education resources before sharing sensitive information.