Closing costs are fees associated with the cost of obtaining a home loan. These fees include items such as the appraisal, lender origination fees, escrow handling charges, wire transfer fees, discount points, lender’s title insurance and prepaid taxes and insurance premiums.

The down payment for a home is applied directly toward lowering your total loan amount.  Normally based on a percentage of the total sales price, the amount is established by the agency loan program that the lender has chosen for your loan.