Wire Transfer your Down Payment

Final Step: Wire Transfer Your Funds for Closing

You’re almost there—just two more steps before you officially own your home! Now comes the most critical financial step: transferring your down payment and closing costs.

How Much Do You Need to Transfer?

Your mortgage lender will email you an estimate of the total amount required for closing, which includes:
✔ Your Down Payment (e.g., 20% of the purchase price if applicable)
✔ Closing Costs (typically 4-6% of the purchase price)
✔ Additional Buffer Funds (usually $1,500 – $2,000 in case of last-minute adjustments)

Example: If you’re buying a $1 million home with 20% down, your mortgage lender will likely request a wire transfer of approximately $260,000:

• $200,000 for the down payment

• $60,000 for closing costs

• $2,000 extra buffer funds (any overage will be refunded to you at closing)

When & How to Send Your Wire Transfer

Timing is Crucial!
✔ Wire transfers must be completed the day before closing.
✔ If you’re unable to wire the funds in time, bring a certified or cashier’s check instead.
✔ Failure to provide funds by closing may delay the entire transaction, meaning you won’t receive your house keys that day.

Once you send the wire transfer:
✅ Immediately email our team, your mortgage lender, and your attorney.
✅ We will verify that the title company has received the funds before closing.

Wire Fraud Warning: How to Protect Your Money

Scammers frequently target homebuyers during the wire transfer process. To avoid fraud, follow these critical safety steps:

✔ Only use wire instructions sent directly by the escrow closer from the title company.
✔ Wire transfer instructions should always arrive via a password-protected or encrypted email.
✔ DO NOT trust wire instructions sent by anyone else—not even from our team or your attorney.
✔ Before transferring funds, CALL the escrow closer directly to verify instructions.
✔ DO NOT use the phone number from the email you received—it could be fraudulent. Instead:

• Look up the title company’s phone number online or

• Ask your attorney for the verified contact number.

What Happens After the Transfer?

✔ After closing, any extra funds you wired will be refunded to you via a check made out in your name.
✔ Once the transaction is finalized, you’ll receive your keys—and officially own your new home! 

Final Reminder: Double-Check Everything!

This is one of the largest financial transactions you will ever make, so take every precaution. When in doubt, call to verify! If you have any concerns or questions, reach out to us immediately.

You're just one step away from homeownership—let’s get you to the finish line safely!