Your down payment isn't the whole number.
Money down goes toward the house. Cash to close is what you need in the bank on closing day. They're two different numbers, and plenty of buyers find that out late. Run yours here, then let's plan how to cover it.
Run my numbersThe part that buys the house
Your down payment. It shrinks your loan and starts building your equity from day one.
Everything due at the table
Your down payment plus closing costs and prepaids, minus earnest money, seller credits and any grant or gift funds. Your Closing Disclosure shows the final figure.
See both numbers
Fill in what you know. Results update as you type, and nothing you enter is saved or sent anywhere.
Where the cash goes
What's inside closing costs
Pick a date
Tell us what you have now and what you can set aside each month. We'll show you when you reach your number.
Close the gap faster
Small, steady moves beat big plans. Pick two and start this week.
Pay yourself first
Set up an automatic transfer on payday into a separate savings account. Money you never see is money you don't spend.
Give it a name
Call the account "House" or "Keys." An account with a job tends to get left alone.
Aim windfalls at it
Tax refund, bonus, side income. Send it to the house account before it gets spent.
Cut one recurring charge
Find a subscription or habit you won't miss and move that money over each month.
Ask about gift funds
Many loans let family give part of the down payment. Your lender will have a gift letter for them to sign.
Ask for seller credits
Depending on the market, a credit toward your closing costs can shrink the cash you need on closing day. We'll talk strategy before you write an offer.
Help for Virginia buyers
Virginia Housing grants
Virginia Housing offers a Down Payment Assistance Grant and a Closing Cost Assistance Grant for qualified first-time buyers. They're gifts, so there's nothing to repay. Which one you can use depends on your loan type, and income and price limits apply.
Homebuyer education
Many Virginia Housing loans require a free homebuying course. You can start with Virginia Housing's homebuyer education page.
Local and state programs
Virginia's housing department also funds down payment assistance for income-eligible first-time buyers through local partners. What's open, and how much, changes by locality, so ask me or your lender what's available in the Roanoke Valley.
Find the right lender
Assistance programs run through participating lenders. Virginia Housing has a Find a Lender tool, and I can point you to local lenders I trust.
Programs, limits and amounts change. Confirm everything with Virginia Housing and a participating lender before you count on it.
Want a second set of eyes on your numbers?
Fifteen minutes, no pressure. We'll look at your price range, what you'll really need at closing, and the most realistic way to get there. More than a move starts with a conversation.
540-314-3706 | LeslieEpperlyRealtor@gmail.com
This tool gives educational estimates only. It is not financial or legal advice or an offer of credit. Closing costs, loan terms and assistance programs vary by lender, property and date. Confirm every number with a licensed lender and your Loan Estimate.
Leslie Epperly, REALTOR® | Real Broker, LLC | Roanoke, VA | Virginia license 0225249710