Can I change my down payment before closing?

Question

Accepted Answer

Yes. The down payment is paid at closing, not at reservation, so you can switch between 5%, 10% and 20% of the financed price until the title company prepares your closing documents; just tell us by WhatsApp, phone or email. A larger down payment means a smaller financed balance and a lower monthly payment at the same fixed 10% rate, and the listing's calculator shows the difference. The $1,000 you paid to reserve is applied in full to whichever down payment you choose, and the closing costs of approximately $1,500 are paid at closing in addition to it.