Down payment
Your down payment is the portion of the price you pay up front, separate from closing costs. How much you put down depends on the loan program you choose with your lender. It's typically the largest single piece of cash you'll bring.
Lender costs
If you finance, the lender charges fees to originate and process the loan. These vary by lender and program, so ask your lender for an itemized estimate early — it's the clearest way to compare your options.
Attorney and settlement costs
South Carolina is an attorney-closing state, so a real estate attorney conducts your closing and handles title. There are attorney and settlement-related costs associated with that work, which the closing office will detail for you.
Prepaids and escrows
At closing you often pre-pay certain recurring items — like a portion of property taxes and insurance — and, depending on your loan, fund an escrow account the lender uses to pay those bills going forward. Your lender and closing office explain exactly what's collected.
Inspections
Most buyers pay for a home inspection during due diligence, and some properties warrant additional specialized inspections. These are out-of-pocket costs, but they buy you information about the home's condition before you commit.
Appraisal
If you're financing, the lender orders an appraisal to independently assess the home's value. The appraisal is a cost associated with the loan, typically arranged through your lender.
Insurance
Homeowners insurance is part of owning, and coastal properties may involve wind and flood coverage depending on the home and its zone. Get quotes early from an insurance professional so the cost is part of your plan, not a surprise.
HOA transfer or initiation fees
Where a home is in a homeowners association, there can be transfer or initiation fees at closing, on top of ongoing dues. Ask what applies for the specific community — amounts and rules vary widely from one association to the next.
Moving and immediate maintenance
Finally, budget for the practical costs after closing: the move itself, any immediate repairs or updates, and a reserve for upkeep. Planning for these keeps the first months in your new home comfortable rather than stressful.
Quick answers
Frequently asked
- How much are closing costs?
- Closing costs are a bundle of categories — lender, attorney/settlement, prepaids and escrows, and more — so the total depends on your loan, the price, and the property. Your lender and closing office provide itemized figures; we can't quote a rate or a flat number here.
- Are closing costs the same as my down payment?
- No — they're separate. The down payment is part of the price; closing costs are the fees to complete the transaction. Plan for both.
- What ongoing costs come with owning a home?
- Beyond the mortgage, plan for property taxes, insurance, any HOA dues, utilities, and maintenance. Setting aside a maintenance reserve is a smart habit from day one.
This is general education, not legal, tax, or financial advice. The Forturro Group is your real estate agent — not your lender, attorney, inspector, appraiser, or closing provider. Every transaction is different; confirm the details for your situation with the right licensed professional.