The Difference Between A Deposit & A Down Payment

When you’re buying a home it may feel like you’re just giving money here, throwing money to that person, paying this fee…and so on 🥴🥴

• Deposit costs.

• Closing costs.

• Fees.

• Down payment.

• Money.

• Money.

• Money.

One thing that we know can be confusing is the difference between a deposit and a down payment.

Once you give at the time that you write the offer. The other you give just before possession.... but the trick... the deposit is part of the down payment... How is that for adding in a bit of confusion?!

Still, have questions about costs? We’d love to help you understand them, send us a message or give us a call!