How Much Cash Do I Need at Closing to Buy a Home in Frisco, TX?

Omega Mejia is a real estate agent in Frisco, Texas helping buyers and sellers navigate the North Texas market.

A lot of buyers think:

“I just need my down payment and I’m good.”

Then they get closer to closing…

And realize they need more.

The Real Range You Should Expect

Most buyers in Frisco need:

About 5% to 15% of the home price in total cash

That includes more than just your down payment.

Where Your Money Actually Goes

Here’s what makes up your total cash needed:

• Down payment

• Closing costs (lender + title fees)

• Prepaid property taxes

• Homeowners insurance

Those last two are what surprise people the most.

A Real Scenario

Someone plans to put 10% down on a $600K home.

They expect to bring $60,000.

But once everything is added up…

They actually need closer to $75,000–$80,000.

That gap matters if you’re not prepared.

What Affects Your Total Cash Needed

Your number will change based on:

• Loan type

• Down payment percentage

• Property taxes

• Insurance costs

No two buyers have the exact same total.

Where Buyers Get It Wrong

They only plan for the down payment.

That’s not enough.

And that’s how deals fall apart late in the process.

Ways to Reduce Your Cash at Closing

There are options, like:

• Seller concessions

• Lender credits

• Adjusting your loan structure

But each option comes with trade-offs.

How to Prepare the Right Way

Before you start shopping:

Get a full breakdown.

Not a rough guess.

That way you know exactly what you’re walking into.

Start Here

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FAQs

Is the down payment the only cost?

No, closing costs and prepaids add more to your total.

Can I reduce how much I need at closing?

Sometimes, depending on the structure of your deal.

Do all buyers pay the same closing costs?

No, it varies based on loan and situation.

When do I pay this money?

At closing, right before you get the keys.

Thinking about buying, selling, or moving to Frisco, Texas?

Omega Mejia is a real estate agent in Frisco, Texas with Simply Great Realty Group, helping buyers, sellers, and relocation clients navigate the North Texas housing market.

If you’re planning your next move, reach out for a clear, simple plan.

Omega Mejia, Realtor®
Simply Great Realty Group
Real Estate Agent in Frisco, Texas

214-620-3581
SimplyGreatRealestategrp.com

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