<prompt> Human: I found this out the hard way recently when buying a house that cost around 350,000. Closing costs will rake your 20 over the coals and may leave you with somewhere closer to 10 or 15 down. I will give some examples of how my 70,000 quickly became significantly less so that you can learn from the mistakes I made.Mortgage origination fee: 1,250Title insurance: 2,100ESCROW TAXES school, county, municipal etc...:5,800Transfer tax: 3,600Inspections:1,500 -Reimbursement to seller of taxes they prepaid: 2,750This is far from the end of the list but all of these costs combined sliced my deposit down to a little under 50,000. Make sure that when buying a house you have your realtor gives an ESTIMATED CLOSING COST work sheet before thinking about making an offer.EDIT: After reading some comments I need to clarify, I have about 15k sitting on the side that will be for emergencies or repairs. I certainly wouldnt recommend using all of your savings on a down payment.  <response>: That is why you should have more than just 20 for a down payment. Usually to play it safe you want to save 20 closing costs emergency savings.One of the things that new owners never factor in are repair costs, when you move into a place there are always repairs. 