Closing Costs Calculator
- Free, no sign-up
- Your inputs stay in your browser
Estimated closing costs
$8,000 to $20,000
2% to 5% of the home price
- Down payment$80,000
- Cash to close, low estimate$88,000
- Cash to close, high estimate$100,000
- Loan amount$320,000
A planning range only. Your Loan Estimate lists the actual costs, and the Closing Disclosure shows the final figures before you sign. Sellers can sometimes agree to pay part of the buyer's closing costs.
Estimated closing costs
$8,000 to $20,000
What closing costs include
Closing costs are the fees and prepaid items due when the sale and loan close. Buyers commonly cite a range of about 2% to 5% of the purchase price, though the real figure depends on the loan, the lender and the state.
- Lender charges: origination, underwriting and processing fees.
- Third-party services: appraisal, credit report, title search and title insurance, settlement or escrow fees, recording fees.
- Prepaid items: homeowners insurance, property taxes and interest paid at closing, and an initial escrow cushion.
- Transfer taxes in some states and cities, and points if you buy down the rate.
How to lower them
Compare Loan Estimates from several lenders, which are standardized so you can compare fees line by line. Ask whether the seller will contribute, shop the services you are allowed to choose, and think carefully before paying points: they only pay off if you keep the loan long enough.
Frequently asked questions
Who pays closing costs, the buyer or the seller?
Both pay some. Buyers pay most lender and loan-related costs. Sellers usually pay agent commissions and may agree to a credit toward the buyer's costs, which is negotiable and limited by loan program rules.
Can I roll closing costs into the loan?
On a refinance this is common. On a purchase, the loan is based on the price, so costs are usually paid in cash unless a seller credit or lender credit covers them.
How much cash should I save in total?
Your down payment plus closing costs, plus a cushion for moving, repairs and an emergency fund. Many lenders also want to see reserves of a few months of payments after closing.
Related calculators
Estimates for education and planning only. TotalMonthly is not a lender or advisor; confirm figures with a licensed professional. See the methodology and disclaimer.