Your total downpayment consists of what you would put down at “contract” and what you would bring to the closing table.
So if you were going to put down a total 5% on a $500,000 home, you would have a total of $25,000 total downpayment that would be divided into:
Monies down on contract signing ($10,000) The money for contract signing is due upon the contract signing, which if offer was accepted today, figure that you would need contract money in about 7 days from now. Monies brought to closing ($15,000) The balance of the entire downpayment is not due till the closing, usually about 45-60 days after contract signing. All closing costs associated with the loan (i.e taxes, fees, title) etc are completely separate from your downpayment monies needed.