This closing cost calculator itemizes the cash-to-close beyond your down payment — lender fees, title and escrow, government charges and prepaid items — as a total and as the percentage of price lenders quote.

Loan amount –
Total closing costs –
As % of price / of loan –
Total cash to close (down + costs) –

Defaults’ fixed fees bundle typical appraisal ($450), credit report ($60), title insurance (~0.5% of price), settlement ($1,500) and recording/transfer (~$1,250) — regional variation is enormous (NY transfer taxes vs no-tax states; attorney states vs escrow states). Your Loan Estimate (page 3) is the binding document; this is the planning estimate.

The Second Price Tag on Every House

The loan itself is our Mortgage Calculator; how much house the income supports is our Home Affordability Calculator. Part of our Finance Calculators collection.

Worked Example (Verified)

  • $400,000 home, 20% down (defaults): loan $320,000 → origination 0.75% = $2,400 + fixed fees $5,010 + insurance prepaid $1,800 + 15 days’ prepaid interest at 6.5% = $855 → total ≈ $10,315 = 2.58% of price, cash to close $90,315 with the down payment
  • The 2–5% rule: buyers typically pay 2–5% of the PRICE in closing costs (lenders quote % of loan — same dollars, bigger-looking number: 3.22% here)
  • Seller concessions and lender credits move these costs without erasing them: a “no-closing-cost” loan buys them back through a higher rate — compare the trade on the Loan Estimate, not the slogan

Closing Discipline

  • Shop the shoppable: origination, title and escrow fees vary by provider; taxes, recording and prepaids don’t care who you pick.
  • Prepaids aren’t fees — insurance and tax escrows are your own money parked ahead; conflating them with lender charges overstates lender greed and understates your cash need simultaneously.
  • Closing-date math: closing late in the month shrinks prepaid interest (fewer days to month-end) — a real, legal few-hundred-dollar lever.
  • Refinances carry a smaller but similar stack; break-even = costs ÷ monthly savings, in months.

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Frequently Asked Questions

How much are closing costs on a house?

Typically 2–5% of the purchase price for buyers. On the default $400,000 purchase: ≈ $10,315 (2.58%) — origination, appraisal/credit, title insurance and settlement, recording/transfer charges, plus prepaids (insurance and ~15 days of interest). This calculator itemizes the stack with your numbers.

What is included in closing costs?

Three families: lender fees (origination, processing, credit, appraisal), third-party/government (title search & insurance, escrow/attorney, recording, transfer taxes), and prepaids (homeowner’s insurance, property-tax escrow deposits, prepaid interest). Only the first family is meaningfully negotiable.

Can closing costs be rolled into the loan?

Sometimes — via lender credits (higher rate), seller concessions (higher price), or loan structures that finance them. The costs don’t vanish; they convert to interest over time. Whether that’s wise depends on how long you’ll keep the loan — short horizons often favor credits.

Who pays closing costs, buyer or seller?

Both pay their own stacks (sellers pay agent commissions and their own transfer/title items by local custom), and either side can concede toward the other’s in negotiation. Local custom — not law — sets many defaults; your contract overrides.

How can I lower closing costs?

Compare Loan Estimates from 2–3 lenders (fees differ by thousands for identical loans), ask for lender credits consciously (knowing the rate trade), shop title/escrow where your state allows, and time closing late-month to cut prepaid interest. Also ask about junk-fee line items — some simply get waived when questioned.

Is this closing cost calculator free?

Yes — free, instant, no sign-up.