What does "Up-front costs" mean?

Mortgage upfront costs include the down payment, which is usually 3% to 20% of the home’s purchase price, and closing costs that generally range from 2% to 5% of the loan amount. These costs must be paid at the beginning of the transaction when buying a home.

Upfront fees for a mortgage include the down payment, which is usually 3% to 20% of the home's purchase price, and closing costs, typically ranging from 2% to 5% of the loan amount. Other potential fees may include appraisal fees, credit report fees, and title insurance.

Affordability depends on your debt-to-income ratio, down payment, credit score, and monthly debts. Each lender has different requirements. Use our home affordability calculator to estimate what you can afford, or contact lenders to discuss your specific situation.

Up-front costs are the expenses paid at the beginning of a home purchase transaction. These include the down payment, which is usually 3% to 20% of the purchase price, and closing costs, which typically range from 2% to 5% of the loan amount.