Closing Costs Calculator
Closing costs are the fees and prepaid items due when a home purchase completes, on top of the down payment. They typically total 2% to 5% of the price.
Enter your figures below. Results update as you type.
Estimated closing costs$10,554.792.6% of the price
- Lender fees 30%
- Title and escrow 19%
- Appraisal and other fees 14%
- Prepaid interest, tax, insurance 37%
- Down payment
- $80,000.00
- Lender fees
- $3,200.00
- Title and escrow
- $2,000.00
- Prepaid interest, tax and insurance
- $3,854.79
- Cash needed to close
- $90,554.79
Prepaids assume 15 days of interest, one year of insurance and three months of property tax. Your Loan Estimate from the lender gives the actual figures.
How the Closing Costs calculation works
Closing costs = lender fees + title and escrow + third-party fees + prepaid interest, tax and insurance
On a $400,000 home with 20% down, a 1% lender fee is $3,200, title and escrow about $2,000, fixed fees $1,500 and prepaids about $3,855. That is $10,555, or 2.6% of the price, and $90,555 of cash to close including the down payment.
Frequently asked questions
How much are closing costs on a house?
Usually 2% to 5% of the purchase price for the buyer. On a $400,000 home that is $8,000 to $20,000, depending on the lender, the state and how much is prepaid into escrow.
Who pays closing costs, the buyer or the seller?
Each pays their own. Buyers pay the loan and title costs and prepaids; sellers usually pay agent commissions and transfer taxes. Sellers sometimes agree to cover part of the buyer's costs as a negotiated credit.
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