Closing Costs Calculator

Estimate the total costs associated with purchasing a home, including loan details and closing expenses

Purchase Information

Home Purchase Price ($)

Down Payment ($)

Closing Costs Percentage (%)

Annual Interest Rate (APR, %)

Loan Term (years) 10 years 15 years 20 years 30 years

Closing Cost Results

Total Closing Costs

-

$

Estimated costs to close the loan

Down Payment %

-

%

Of purchase price

Loan Amount

-

$

Principal amount to be financed

Cost Breakdown

30%

Down Payment

Loan Amount

Closing Costs

Estimated Closing Cost Breakdown

Fee Type	Amount

Cash Needed at Closing

- estimated total

Includes down payment and closing costs

Monthly Payment Estimate

Principal & Interest: -

Estimated Taxes & Insurance: -

Total Monthly Payment: -

About Closing Costs

Closing costs typically range from 2% to 5% of the home's purchase price and include fees for loan origination, appraisal, title insurance, escrow, and other services. These costs are in addition to your down payment.

Note: This calculator provides estimates only. Actual closing costs may vary based on location, lender, and other factors.

This calculator helps estimate closing costs and mortgage payments. Print Results

What is a Closing Costs Calculator?

A Closing Costs Calculator is a financial tool that estimates the total fees and expenses associated with finalizing a real estate transaction. It helps buyers, sellers, and refinancers prepare for the cash needed at settlement.

Key Features:

• Estimates all lender, title, and government fees

• Calculates prepaid items like taxes and insurance

• Provides a breakdown of who pays which fees (buyer vs. seller)

• Adjusts for loan type and location-specific taxes

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How Closing Costs Are Calculated

Closing costs typically range from 2-5% of the home's purchase price for buyers and 1-3% for refinancers. The calculator uses:

Total Closing Costs = Lender Fees + Third-Party Fees + Prepaids + Escrows + Taxes

Detailed Fee Breakdown:

Fee Category	Description	Typical Cost
Lender Fees	Origination, underwriting, points	0.5%-1.5% of loan
Title & Escrow	Title search, insurance, settlement	$800-$2,500
Appraisal & Credit	Property valuation, credit report	$300-$700
Government Fees	Recording, transfer taxes	Varies by location
Prepaids	Homeowners insurance, property taxes	2-6 months upfront

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Step-by-Step Calculation Example

Scenario: $400,000 home with 20% down conventional loan

1. Loan Amount: $320,000

2. Estimated Closing Costs (3%): $9,600

   • Lender fees: $3,200 (1%)

   • Title/escrow: $1,800

   • Appraisal: $500

   • Prepaids: $4,100 (insurance + taxes)

3. Cash to Close: $80,000 (down) + $9,600 = $89,600

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Who Pays What?

Buyer Typically Pays:

• Loan-related fees

• Homeowners insurance

• Property tax escrows

• Owner's title insurance

Seller Typically Pays:

• Real estate commissions (5-6%)

• Transfer taxes (in some states)

• Seller's title insurance

• Outstanding liens

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How to Reduce Closing Costs

1. Negotiate with seller for concessions (up to 3-6% of price)

2. Shop service providers for title/escrow

3. Request lender credits (in exchange for slightly higher rate)

4. Time your closing near month-end to reduce prepaid interest

5. Look for assistance programs (FHA, VA, or local grants)

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Special Considerations

• FHA Loans: Add 1.75% upfront MIP

• VA Loans: Limit buyer-paid fees (sellers often pay more)

• Refinancing: May include prepayment penalties

• New Construction: Often higher title/escrow fees