The costs beyond the down payment
Know what you’ll spend, when you’ll need it, and what you’ll keep.
Put the costs on a timeline
The useful question is not just ‘What does the house cost?’ It is ‘When will I need the money, and what will be left?’ Make four columns: before closing, at closing, monthly, and first year. Ask your lender and transaction team to help reconcile them so the same expense is not counted twice.
Before closing: cash can leave early
Ask when earnest money, inspections, specialist evaluations and any appraisal payment are due. Record who receives each payment and whether it is credited later. Ask what happens to each amount if the transaction does not close under your specific agreement. Do not assume every upfront payment is refundable.
At closing: separate fees from funding
Use the Loan Estimate to identify lender charges, other closing costs, prepaid items, initial escrow funding and estimated cash to close. Taxes and insurance estimates are not a measure of lender generosity. Ask for an explanation when those assumptions differ between offers. Compare similar loan scenarios and reconcile the final figures with the Closing Disclosure.
Monthly: use the full household number
Your worksheet should have a line for the mortgage payment, taxes, insurance, any mortgage insurance, association dues, utilities and a maintenance reserve. Mark each line as included in another payment or paid separately. Request property-specific quotes and documents rather than borrowing the seller’s total or a listing website’s estimate.
First year: price the house you actually saw
List inspection follow-ups, immediate repairs, moving, locks, appliances that are excluded, and any yard work you intend to do. For a property with irrigation, ask about the provider, assessments, delivery and upkeep. For a well or septic system, ask which inspections and ongoing services apply. Leave optional decorating in a separate column so it does not hide essential work.
The reserve test
Write: available funds minus verified cash to close minus separately paid transaction costs minus planned move-in work equals remaining cash. Avoid subtracting earnest money twice if the closing figure already credits it. Then ask whether the remaining cushion fits your household and the property’s condition. A hypothetical $4,000 repair is not a local cost estimate—get quotes for the actual work.
One manageable next step
Gather one Loan Estimate, one insurance quote and the available inspection information. Highlight every unknown rather than filling it with zero. Bring that marked-up worksheet to your lender and agent.
Sources & next steps
Sources reviewed October 18, 2026. Local hours, programs and availability can change; confirm directly before making plans.
Have a question about how this applies to your move? Email Sam or call 208-813-0774.
General educational information. Property-specific facts, financing and transaction requirements should be verified with the appropriate professionals.