July 22 A down payment is the only upfront cost. TRUE OR FALSE? False! Along with the down payment, there are closing costs that you need to consider. These are processing fees paid to the lender and generally between 2-6% of the loan amount. Leave a Reply Cancel replyCommentEnter your name or username to comment Enter your email address to comment Enter your website URL (optional) Save my name, email, and website in this browser for the next time I comment.