Mortgage Closing Costs Calculator

Estimate the various fees and expenses you'll need to pay at closing when buying a home or refinancing your mortgage. Get a breakdown of lender fees, third-party costs, and prepaid items.

Mortgage Closing Costs Calculator

Estimate how much you'll pay in closing costs when buying a home or refinancing a mortgage.

Purchase/Refinance Details

PurchaseRefinance

Home Price

Down Payment

Loan Amount

$240 000

Lender Fees

Loan Origination Fee

Application Fee

Loan Processing Fee

Underwriting Fee

Prepaid Items

Prepaid Interest

Homeowner's Insurance (1 year)

Property Taxes (escrow)

Escrow Deposit

Third-Party Fees

Appraisal Fee

Title Services & Insurance

Government Recording Fees

Escrow/Closing Fee

Credit Report Fee

Survey Fee

Attorney Fee

Pest Inspection

Closing Costs Breakdown

Results update automatically as you change your inputs

About Closing Costs

What Are Closing Costs?

Closing costs are fees paid at the closing of a real estate transaction when the title to the property is transferred. These costs typically range from 2-5% of the loan amount.

Types of Closing Costs

Lender fees: Directly charged by the lender for processing your loan
Third-party fees: For services required but not performed by the lender
Prepaid items: Advance payments for taxes, insurance, and interest

Negotiating Closing Costs

Some closing costs are negotiable. You can shop around for services like title insurance and home inspection. You may also ask the seller to cover some costs or request lender credits in exchange for a slightly higher interest rate.

Closing Cost Disclosures

By law, lenders must provide a Loan Estimate within three days of your application and a Closing Disclosure three days before closing, detailing all costs and fees.

Typical Closing Cost Range

Purchase: 2-5% of loan amount
Refinance: 1-3% of loan amount

How to Use This Calculator

This calculator helps you make informed financial decisions by providing accurate estimates based on the information you provide. Follow these steps:

Enter Your Details

Fill in all required fields with your financial information.

Adjust Parameters

Use sliders and toggles to customize scenarios and assumptions.

View Results

Get instant calculations that update as you change inputs.

Compare Options

Try different scenarios to find the best financial solution.

Understanding Closing Costs

Closing costs are the fees and expenses you pay when finalizing a mortgage, whether for a new home purchase or refinancing an existing loan. These costs typically range from 2-5% of the loan amount for purchases and 1-3% for refinances.

Lender Fees

These are fees charged directly by the mortgage lender for processing, underwriting, and funding your loan.

Loan origination fees
Application fees
Underwriting fees
Processing fees
Credit report fees
Discount points (optional)

Third-Party Fees

These fees are paid to service providers other than your lender who are involved in the mortgage process.

Title search and insurance
Appraisal fees
Survey fees
Attorney fees
Home inspection fees
Government recording fees
Transfer taxes

Prepaid Items

These are costs that must be paid in advance to establish escrow accounts and cover initial expenses.

Homeowners insurance premiums
Property tax deposits
Mortgage insurance premiums
Prepaid interest
Initial escrow deposits
HOA transfer fees (if applicable)

Ways to Reduce Closing Costs

Negotiate with the seller: In a buyer's market, you may be able to negotiate for the seller to pay some of your closing costs.

Shop around for services: You can choose providers for some services like title insurance, home inspection, and survey.

Compare lender offers: Different lenders have different fee structures. Get Loan Estimates from multiple lenders.

Ask about lender credits: Some lenders offer credits to offset closing costs in exchange for a slightly higher interest rate.

Close at the end of the month: This reduces the amount of prepaid interest you need to pay at closing.

Important Disclosure

By law, lenders must provide you with a Loan Estimate within three business days of receiving your application. This document details all expected closing costs. Additionally, you'll receive a Closing Disclosure at least three business days before closing, which shows the final figures. Compare these documents carefully to identify any unexpected increases in fees.