Closing Cost Calculator
Closing on a US home often costs 2-5% of the loan amount on top of the down payment: lender fees, title insurance, appraisal, inspection, recording fees, prepaid taxes, HOA transfer charges and other settlement items. Enter the purchase price, loan amount and the line items from your Loan Estimate or local quote, and the calculator totals the estimate plus the cash needed to close.
How the estimate is built
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1
Enter the price and loan amount
The difference is treated as the down payment for the cash-to-close estimate.
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2
Set lender and service fees
Use the lender fee percentage, title insurance, appraisal and inspection fields from your quote.
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3
Add prepaids and local charges
Recording fees, prepaid property taxes, HOA transfer charges and other settlement items vary by state, county and property.
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4
Review total and cash to close
The result separates lender fees, service costs, prepaids and other charges, then adds them to the down payment.
Typical closing cost items
Lender fees:
- Origination (0.5-1.5% of loan)
- Underwriting ($400-900)
- Processing ($300-600)
- Credit report ($25-75)
- Rate lock fee (varies, sometimes $0)
- Discount points (optional — 1 point = 1% of loan to buy down rate)
Third-party fees:
- Appraisal ($400-800 for single-family; more for condos or luxury)
- Title insurance (0.5-1% of purchase price; lender’s policy required, owner’s optional but recommended)
- Title search ($150-400)
- Settlement / escrow fee ($500-2,000)
- Home inspection ($300-600, paid upfront)
- Pest inspection ($75-150)
- Survey ($300-800 if required)
Government and recording:
- Recording fees ($50-200)
- Transfer tax (0-2.5% of purchase price; varies widely — NY and NJ are expensive)
- Mortgage tax (NY specifically — ~2% of loan amount)
Prepaid and escrow:
- Prepaid interest (from closing to end of month)
- Homeowners insurance (1 year premium upfront)
- Property tax escrow (2-6 months reserve)
- HOA setup fees (where applicable)
- FHA/VA upfront funding fees (1.75% / 2.15% respectively)
- Mortgage insurance (if LTV > 80% on conventional, or FHA)
Example: $400,000 home, $320,000 loan, conventional purchase
| Category | Example input |
|---|---|
| Lender fee (1%) | $3,200 |
| Title insurance | $1,200 |
| Appraisal | $600 |
| Inspection | $500 |
| Recording fees | $250 |
| Prepaid property taxes | $2,500 |
| HOA transfer | $300 |
| Other | $500 |
| Estimated closing costs | ~$9,050 (~2.3%) |
| Cash to close with down payment | ~$89,050 |
Seller credits
Sellers often agree to cover some closing costs as a concession — common amounts are 1-3% of purchase price on conventional loans, up to 6% on FHA. The concession is rolled into the contract price. Useful when a buyer has the income for a mortgage but not enough cash for closing.
Shopping around
You are allowed to shop for the services listed as “can shop for” on the Loan Estimate, such as title, settlement and inspection providers. Lender-controlled items such as origination fees and discount points should be compared across lenders. Always compare Loan Estimates from at least three lenders because fees can vary meaningfully between them.
What the calculator does not estimate
- Moving costs
- New-home furnishings
- Utility setup deposits
- Warranty (seller-paid or buyer-paid)
- Post-closing remodelling
Frequently Asked Questions
On refinances, often yes — “no closing cost” refis build fees into the loan balance or rate. On purchases, lender fees can sometimes roll in, but third-party fees usually cannot (for example appraisal or title services), so plan on paying most out of pocket.
Lender fees and third-party services you are allowed to shop for can often be negotiated. Government, recording and transfer charges generally cannot. The Loan Estimate your lender gives you within 3 business days of application is an important comparison document and limits how much many charges can change.
Steep transfer taxes and mortgage recording taxes are the main reason. New York adds mortgage recording tax on top of purchase transfer taxes, and New Jersey transfer costs can also be high. Budgeting 4-6% of the loan amount in high-tax states is prudent; 2-3% is more typical elsewhere.
FHA adds a 1.75% upfront mortgage insurance premium (financed into the loan), plus monthly MIP. Closing costs are otherwise similar. VA loans add a funding fee (2.15-3.3%) that’s waived for disabled veterans.
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