Closing Cost Calculator
Estimate closing costs on a home purchase and the total cash needed at closing including a down payment.
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Typical US range is 2-5%
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Results
Total Cash Needed at Closing
$80,500.00
Down Payment
$70,000.00
Estimated Closing Costs
$10,500.00
How to Use the Closing Cost Calculator
Enter the home's purchase price and an estimated closing cost percentage — typically 2-5% of the purchase price in the US, covering things like lender fees, title insurance, appraisal fees, and recording fees. Add a down payment percentage as well to see the total cash you'd need to bring to closing, combining both the down payment and the closing costs.
Total Cash Needed = Down Payment + Estimated Closing Costs
Example
On a $350,000 home with an estimated 3% closing cost rate and a 20% down payment: closing costs = $350,000 × 0.03 = $10,500, and down payment = $350,000 × 0.20 = $70,000. Total cash needed at closing = $70,000 + $10,500 = $80,500.
Common Use Cases
- Budgeting how much cash you'll need on hand before making an offer on a home.
- Comparing total upfront cash needed across homes at different price points.
- Getting a rough closing cost estimate before receiving an official loan estimate from a lender.
FAQs
- How accurate is the closing cost percentage? This is a rough estimate only — actual closing costs vary by state, lender, loan type, and even the specific title company or attorney involved. Your lender is required to provide an official Loan Estimate with itemized costs once you apply for a mortgage.
- What's typically included in closing costs? Common items include loan origination fees, appraisal and inspection fees, title search and title insurance, recording fees, and prepaid items like property taxes and homeowners insurance held in escrow.
- Do closing costs differ for buyers and sellers? Yes — this calculator estimates buyer-side closing costs. Sellers typically pay their own separate costs, most notably real estate agent commissions, which are not included here.