Closing Costs Calculator

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How Much Are Closing Costs on a House?

Use our closing costs calculator to estimate how much you might pay in closing costs when you buy your new home. Change the numbers to personalize your results!

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Purchase Price

Loan Amount

PROPERTY TAX (YEARLY)

HOME INSURANCE (YEARLY)

Interest Rate

Discount Points

Our closing cost calculator assumes you are buying a house with a 30-year conventional loan and includes an origination charge in the amount of $1295. Calculator also assumes estimated amounts for third party closing costs. Actual amounts may vary depending on the state. This calculator is made available as a self-help tool for your personal use. We do not guarantee its accuracy or applicability to your individual circumstances. Resulting calculations are for illustrative and informational purposes only and are not intended as investment or financial advice. Consult a qualified financial advisor before making important personal finance decisions. To get a better understanding of the costs of buying a home, speak with a loan advisor.

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What Are Closing Costs?

Closing costs are fees and expenses buyers must pay when buying or refinancing a home. These costs can include lender fees, discount points, home appraisals, title insurance, property taxes, homeowners insurance, mortgage insurance, and more.

Closing costs can range between 2% and 5% of your loan amount, according to Fannie Mae. You may be able to add your closing costs to your loan amount, or you may need to pay them in cash at closing.

Your loan amount can affect how much you'll pay in closing costs. For example, the cost of mortgage discount points is based on your loan amount. The more money you borrow, the more you might pay for discount points.

The purchase price of the home can also affect your closing costs, because you'll often need to pay property taxes and homeowners insurance costs at closing. Generally speaking, the more expensive the home, the more you might pay in taxes and insurance premiums.

How to Calculate Closing Costs for Buyers

Closing costs calculators rely on information you provide, such as:

Purchase price
Loan amount
Yearly property taxes
Yearly homeowners insurance cost
Interest rate
Discount points

Once you've entered this information, you'll get an estimate of what your closing costs might be on a 30-year, Conventional loan with an average loan origination fee. You can also adjust values, like the loan amount, to see how your closing costs could change.

Benefits of Using a Buyer's Closing Costs Calculator

A closing costs calculator can help you create a homebuying budget you can afford. To buy a home, you'll need money for a down payment, as well as money for closing costs you'll have to pay in cash. The calculator can help you estimate the total amount of cash you'll need.

You'll also want to estimate affordable home prices and mortgage loan amounts when you create your budget. Getting prequalified can help you do this. With information from your prequalification and the closing costs calculator, you can start searching for your next home with more confidence.