IncomeChecker.com

Closing Cost Calculator

Estimate what you will pay at closing. Adjust each line to match your Loan Estimate, and see the total closing costs, the percentage of the price, and the cash you need to close including your down payment.

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Origination, underwriting, points

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Appraisal, credit report, flood, inspection

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First year is usually paid at closing

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Total closing costs
$10,650
3.04% of the price
Cash to close
$45,650
Includes $35,000 down
Lender and third-party fees
$4,650
Title, recording, and transfer
$3,150
Prepaids and escrow
$2,850

What is added up

  • Lender fees = loan amount × lender fee %
  • Title and settlement, and recording and transfer = price × each %
  • Prepaids = one year of homeowners insurance + months of property tax held in escrow
  • Cash to close = down payment + closing costs

Example. On a $350,000 home with 10% down, the loan is $315,000. Lender fees of 1% are $3,150, third-party fees $1,500, title and settlement $2,100, recording and transfer $1,050, and prepaids $2,850. Closing costs total $10,650, or 3.04% of the price, and cash to close is $45,650.

Things to check

  • The defaults are placeholders, not quotes. Replace them with the figures on your Loan Estimate, which a lender must give you within three business days of applying.
  • Buyers commonly see closing costs of roughly 2% to 5% of the price. Taxes, title rules, and fees vary a lot by state and county.
  • This leaves out the home price and anything the seller agrees to pay. Seller credits reduce your cash to close.

Frequently asked questions

How much are closing costs?

Commonly about 2% to 5% of the purchase price for a buyer. The total depends on the loan, the state, and the county. Your Loan Estimate lists the actual amounts.

What are prepaids?

Costs you pay in advance at closing, such as the first year of homeowners insurance and a few months of property tax placed in an escrow account.

Can I roll closing costs into the loan?

Sometimes, depending on the loan type and the appraised value. A lender can also give a credit in exchange for a higher rate. Ask for both options in writing and compare them.

More free lending tools

Calculators give estimates from the numbers you enter. They are not tax, legal, or accounting advice.