How much do I need for a down payment and closing costs?

It depends on the loan program and the building. On a qualifying condo, a conventional loan can start around 5 percent down, and some programs go lower, but only if the building itself is approved for that program. You also want cash set aside for closing costs and your first year of insurance and taxes. I connect buyers with lenders who actually understand condo financing, so you get a real number before you start looking.