Closing Cost Calculator
Enter your home price, down payment, and rate to see an itemized estimate of what you'll owe at the closing table — instantly, right in your browser.
📖 How it works & FAQ| Line item | Estimate |
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What closing costs actually include
Closing costs are the fees you pay on top of your down payment to finalize a home purchase — typically 2–5% of your loan amount. They break into three buckets: lender charges (origination fee, appraisal), third-party services (title insurance, escrow or settlement fees, recording fees), and prepaids (interest from your closing date to the end of the month, plus upfront homeowners insurance and property tax deposits). This calculator itemizes all of them so the total isn't a mystery number.
Where the estimates come from
Defaults reflect common national figures: a 1% origination fee, $550 appraisal, title insurance and services at 0.5% of the loan, a $700 escrow/settlement fee, $250 in recording fees, 15 days of prepaid interest at your rate, and $1,500 in insurance and tax prepaids. Every assumption is editable, so plug in real quotes as you get them. These figures are rough estimates only — not financial, tax, insurance, or legal advice; the official Loan Estimate and Closing Disclosure from your lender are the authoritative numbers.
How to use it
- Enter the home price and your planned down payment — the loan amount is calculated automatically.
- Enter your quoted interest rate so prepaid interest is priced correctly.
- Adjust the origination percentage, prepaid-interest days, and insurance/tax prepaids to match your lender's quotes.
- Read the total, its percent of loan, and the full line-by-line breakdown — everything updates live as you type.
FAQ
- Why are closing costs 2–5% of the loan?
- Several fees (origination, title insurance) scale with the loan, while others (appraisal, recording) are flat. On typical loan sizes the combination usually lands between 2% and 5%.
- Does the total include my down payment?
- No — closing costs are separate. The "cash to close" card adds them together so you know the full amount to bring to closing.
- What are prepaids?
- Money paid at closing for future expenses: interest covering the days between closing and your first payment cycle, plus upfront homeowners insurance premiums and property tax escrow deposits.
- Can I reduce closing costs?
- Often, yes. Shop lenders for lower origination fees, compare title companies where your state allows, close later in the month to cut prepaid interest, or negotiate seller credits.