🔑Closing Cost Calculator

About this tool

Enter the home price, down payment, mortgage rate and property tax rate. The calculator estimates each closing cost from typical defaults and adds up the total, the percentage of the price and the cash you'll need to close. Open the cost list to edit any line so it matches your Loan Estimate.

What closing costs include

Closing costs are the fees and prepaid items due when you complete a home purchase, on top of the down payment. They typically run 2% to 5% of the price. Lender charges include origination or underwriting fees (often around 1% of the loan), any discount points you buy to lower the rate, the appraisal and the credit report. Title and settlement costs cover the title search, the lender's and (optionally) owner's title insurance, and the escrow or settlement agent. Government costs are recording fees and, in many states, transfer taxes. Prepaids aren't fees but money collected up front: interest from the closing date to the end of the month, the first year of homeowners insurance, and a few months of property tax to start the escrow account. With this tool's defaults, a $400,000 home with 20% down comes to about $12,000 in closing costs (3%) and $92,000 in total cash to close. Within three business days of applying, your lender must give you a Loan Estimate listing these costs, and three days before closing a Closing Disclosure with the final numbers. Compare them, ask about any changes, and shop for services you're allowed to choose. Honest limits: who pays transfer taxes and title insurance, and how much, varies widely by state and county and can be negotiated. Seller and lender credits reduce your cash to close. These are estimates, not financial advice. The mortgage calculator, the home affordability calculator and the mortgage points calculator are related.

Frequently asked questions