Closing Cost Calculator: Estimate Your Home Buying Fees
The purchase price is not the only thing you pay when you buy a home. Closing costs — lender fees, title insurance, appraisal, escrow, and more — typically add thousands of dollars. This calculator estimates your total closing costs and the cash you will need at closing.
How Closing Costs Are Estimated
For buyers, closing costs usually run 2% to 5% of the loan amount. The exact amount depends on your lender, location, and loan type. Your down payment is separate and paid in addition to these costs.
Common Closing Costs
- Origination fee — lender's charge to process the loan (~0.5% - 1%)
- Appraisal fee — $300 to $600 to confirm home value
- Title search & insurance — protects against ownership disputes
- Home inspection — $300 to $500 (optional but recommended)
- Escrow & recording fees — various government and settlement charges
- Prepaid taxes & insurance — a few months paid upfront into escrow
Example Calculation
$300,000 home, 3% closing costs, 20% down payment:
- Closing costs: $300,000 x 3% = $9,000
- Down payment: $300,000 x 20% = $60,000
- Total cash needed at closing: $69,000
FAQ
How much are closing costs for a buyer?
Typically 2% to 5% of the home price, though they can be higher with points or special programs.
Can I roll closing costs into the loan?
Sometimes, with certain loan types or a refinance, but it increases your loan balance and monthly payment.
Who pays closing costs?
Both buyers and sellers pay different closing costs. Buyers typically pay lender and title fees, while sellers often pay the real estate agent commissions.
Disclaimer: This estimate is for general reference. Your lender will provide an official Loan Estimate with exact figures.