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Mortgage & Loans
Closing Costs Calculator — Estimate Fees & Total Cash to Close
The extra 2–5% buyers forget: lender, title and escrow fees on top of the down payment
When you buy a home in the U.S., the down payment is only part of the cash you bring to the table. On top of it, you owe closing costs — the bundle of one-time fees that lenders, title companies, appraisers and your local government charge to originate the loan and transfer the property. For most buyers these run 2% to 5% of the loan amount, due in full on closing day, usually by wire or cashier's check. Miss them in your budget and you can be tens of thousands of dollars short the week you're supposed to sign.
This page does two jobs. First, it estimates total closing costs, either as a quick percentage of the loan or as an itemized list of the real line items. Second — and this is the number that actually matters at the closing table — it adds those costs to your down payment to show your total cash to close:
Cash to close = down payment + closing costs.
Worked example. Say you buy a $400,000 home with 20% down. Your down payment is 400,000 × 0.20 = $80,000, and your loan amount is 400,000 − 80,000 = $320,000. If you estimate closing costs at 3% of the loan, that's 320,000 × 0.03 = $9,600. So your cash to close is 80,000 + 9,600 = $89,600 — not the $80,000 the down-payment math alone suggested.
In itemized mode you'd break that $9,600 into real pieces. A typical breakdown on a $320,000 loan might be: loan origination at 1% = $3,200, appraisal $600, title insurance $1,800, recording fees $150, other fees (credit, survey, attorney, processing) $1,850, and prepaid escrows (first-year insurance, property-tax reserves and prepaid interest) $1,500 — about $9,100 total, or 2.84% of the loan. Prepaids are really money you'd owe anyway, paid up front, but they still leave your bank account at closing.
The most common mistake is budgeting only for the down payment and treating closing costs as an afterthought. They're not optional and they're not small: on a $320,000 loan, 2–5% is $6,400 to $16,000 in cash, separate from your down payment. A second trap is assuming the seller will cover them — seller concessions exist, but they're negotiated, capped by loan type, and never guaranteed.
Use this calculator to pressure-test your savings before you make an offer: enter your price and down payment, pick a percentage estimate or itemize the fees from your lender's Loan Estimate, and see the cash you'll need on closing day.
This tool provides informational estimates only, not a loan offer or financial advice; your actual closing costs are itemized on the Loan Estimate and Closing Disclosure your lender is required to provide.
📖 See also: Mortgage Points: Should You Buy Down Your Rate?
Calculator
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📰 Formula
• Down payment = price × (down % ÷ 100), or the dollar amount you enter • Loan amount = home price − down payment • Estimate mode: closing costs = loan × (estimate % ÷ 100) • Itemized mode: closing costs = origination (loan × orig% ÷ 100) + appraisal + title + recording + other fees + prepaid escrows • Cash to close = down payment + closing costs • Closing costs as % of loan = closing costs ÷ loan × 100
📰 Formula
• Down payment = price × (down % ÷ 100), or the dollar amount you enter • Loan amount = home price − down payment • Estimate mode: closing costs = loan × (estimate % ÷ 100) • Itemized mode: closing costs = origination (loan × orig% ÷ 100) + appraisal + title + recording + other fees + prepaid escrows • Cash to close = down payment + closing costs • Closing costs as % of loan = closing costs ÷ loan × 100
🧪 Worked examples
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Example 2
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Example 3
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Example 4
⚠️ Common mistakes
- Budgeting for the down payment only and forgetting closing costs (another 2–5% of the loan).
- Assuming the seller will pay closing costs — concessions are negotiated and capped, not guaranteed.
- Applying the percentage to the home price instead of the loan amount.
- Leaving out prepaid escrows (first-year insurance, tax reserves and prepaid interest) that are still due at closing.
💡 Tips
- Use 2–3% for a rough estimate and 4–5% if you have many lender or attorney fees or high prepaid escrows.
- Ask the seller for concessions, but know they're capped by loan type — typically 3–6% of the price.
- Always reconcile this estimate against the Loan Estimate (page 2) your lender must send within 3 business days.
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❓ Frequently asked questions
How much are closing costs for a buyer?
Buyer closing costs typically run 2% to 5% of the loan amount. On a $320,000 loan that's about $6,400 to $16,000, separate from your down payment and due in full on closing day.
What is cash to close?
Cash to close is the total money you bring to the closing table: your down payment plus your closing costs (minus any deposit already paid or seller credits). It's the bottom-line figure on your Closing Disclosure.
Are closing costs separate from the down payment?
Yes. The down payment is the share of the price you pay in cash; closing costs are the one-time fees to originate the loan and transfer the property. You owe both at closing, which is why this calculator adds them together.
What's included in closing costs?
Common line items are loan origination, appraisal, title insurance, recording fees, credit report, survey, attorney or settlement fees, lender processing, and prepaid escrows (first-year homeowners insurance, property-tax reserves and prepaid interest).
Can the seller pay my closing costs?
Sometimes. Seller concessions let the seller credit part of your closing costs, but they're negotiated and capped by loan type — usually 3% to 6% of the purchase price for conventional loans, and lower for some FHA and VA scenarios. They're never guaranteed.
Should I apply the percentage to the home price or the loan amount?
The standard rule of thumb (2–5%) is based on the loan amount, not the home price. This calculator estimates closing costs from the loan amount so the percentage matches lender conventions.
Can closing costs be rolled into the loan?
Sometimes. On a refinance you can often finance closing costs into the new loan, and some purchase programs allow lender credits in exchange for a slightly higher rate. Rolling costs in reduces cash to close but raises your loan balance and total interest.
How accurate is this closing costs estimate?
It's a planning estimate, not a quote. Use it to size up the cash you'll need before you make an offer, then reconcile it against the official Loan Estimate your lender must provide within three business days of your application.
Do closing costs vary by state?
Yes, a lot. Transfer taxes, recording fees, title insurance rules and whether an attorney is required all vary by state and county, so identical loans can have very different closing costs depending on where you buy.