Closing Cost Calculator: How Much Will You Pay to Close?
Quick answer
Buyer closing costs usually run about 2% to 5% of the loan amount, or roughly $6,300 to $15,750 on a $315,000 loan. They include lender fees, appraisal, title insurance, settlement and recording fees, transfer taxes in some states, and prepaid interest and escrow. Use the calculator to estimate your total cash to close.
Closing costs are the fees you pay to finalize a mortgage and buy a home, and they are on top of your down payment. Use our closing cost calculator to estimate your total, then see what each fee is and how to lower them.
Closing Cost Calculator
Estimate buyer closing costs and the total cash you need to close.
Estimate only. Your lender must give you a Loan Estimate within 3 business days of applying, and a Closing Disclosure at least 3 business days before closing.
How much are closing costs?
Buyer closing costs usually run about 2% to 5% of the loan amount. On a $315,000 loan (a $350,000 home with 10% down), that is roughly $6,300 to $15,750. Where you fall depends on your state, lender, loan type, and whether you pay points or transfer taxes.
What is included in closing costs?
| Cost | Typical range | Notes |
|---|---|---|
| Lender origination or underwriting fees | 0.5% to 1% of the loan | Compare on Loan Estimates |
| Discount points (optional) | 1% of the loan per point | Buys a lower rate |
| Appraisal | $400 to $700+ | Required by most lenders |
| Home inspection | $300 to $600 | Not required, but strongly advised |
| Credit report | $25 to $100 | |
| Title search and title insurance | $1,000 to $3,000+ | Varies a lot by state |
| Settlement or attorney fee | $500 to $2,000 | |
| Recording fees | $50 to $500 | Set by the county |
| Transfer taxes | 0% to 2%+ of price | Depends on state; buyer or seller may pay |
| Prepaid interest, insurance and tax escrow | $1,500 to $5,000+ | Funds your escrow account |
How to lower your closing costs
- Compare at least three Loan Estimates on the same day.
- Shop for services your lender lets you choose, like title and settlement.
- Ask for seller concessions: the seller may agree to pay part of your costs.
- Look for down payment and closing cost assistance programs. See our first-time buyer programs guide.
- Close near the end of the month to reduce prepaid interest (but this does not lower the total cost of the loan).
- Ask about lender credits: a slightly higher rate in exchange for lower upfront costs.
Plan for 2% to 5% of the loan amount in closing costs, on top of your down payment and moving costs.
Loan Estimate and Closing Disclosure
Federal rules require lenders to give you a Loan Estimate within three business days of applying, so you can compare offers. At least three business days before closing, you receive a Closing Disclosure with final numbers. Compare the two and ask about any changes.
Cash to close checklist
- Down payment.
- Closing costs (2% to 5% of loan).
- Prepaids and escrow.
- Moving costs.
- Emergency fund left over.
How to use the closing cost calculator, field by field
The closing cost calculator above works best when you fill it in with numbers from a real Loan Estimate. If you do not have one yet, use these starting points from the typical ranges in this guide:
- Home price and down payment: your target price and the percent you plan to put down. The loan amount is the price minus the down payment.
- Lender fees (% of loan): start with 0.5% to 1%.
- Discount points: enter 0 unless you plan to buy down your rate. Each point is 1% of the loan.
- Title, settlement and recording: about $1,500 to $5,000 combined is a reasonable placeholder, depending on your state.
- Appraisal, inspection and credit: about $725 to $1,400 using the ranges in the table above.
- Transfer taxes paid by buyer: 0% in many states; check your state and your contract.
- Prepaids and escrow: about $1,500 to $5,000, higher if your property taxes or insurance are high.
Once you get Loan Estimates, replace the placeholders with real figures and run the closing cost calculator again for each lender.
Closing costs by home price
Here is what the 2% to 5% planning range looks like at different prices, assuming 10% down:
| Home price | Loan amount (10% down) | Closing costs at 2% | Closing costs at 5% | Down payment |
|---|---|---|---|---|
| $250,000 | $225,000 | $4,500 | $11,250 | $25,000 |
| $350,000 | $315,000 | $6,300 | $15,750 | $35,000 |
| $450,000 | $405,000 | $8,100 | $20,250 | $45,000 |
| $500,000 | $450,000 | $9,000 | $22,500 | $50,000 |
| $600,000 | $540,000 | $10,800 | $27,000 | $60,000 |
Worked example: total cash to close
Take the $350,000 home with 10% down from the quick answer. Using middle-of-range numbers from this guide:
| Item | Estimate |
|---|---|
| Down payment (10%) | $35,000 |
| Lender fees (0.75% of $315,000) | $2,363 |
| Appraisal, inspection and credit report | About $1,000 |
| Title, settlement and recording | About $3,000 |
| Transfer taxes (state with none paid by buyer) | $0 |
| Prepaids and escrow | About $3,000 |
| Estimated closing costs | About $9,363 (about 3% of the loan) |
| Total cash to close | About $44,363 |
Add moving costs and keep an emergency fund on top. Our cost to move guide has typical moving budgets.
Points vs lender credits: which saves more?
A closing cost calculator helps you see the upfront side of this trade-off. Paying a discount point (1% of the loan, or $3,150 on $315,000) lowers your rate, while a lender credit raises your rate a little in exchange for cash toward closing costs.
- Buying points makes sense if you will keep the loan long enough for the monthly savings to cover the upfront cost. Divide the cost of the points by the monthly savings to find the break-even month.
- Taking lender credits makes sense if cash is tight or you expect to sell or refinance within a few years.
- Ask for both options on your Loan Estimates so you compare the same loan with and without points.
Seller concessions: how they change your numbers
In a slower market, a seller may agree to pay part of your closing costs. For example, a 2% seller concession on a $350,000 price is $7,000, which could cover most of the $9,363 in the example above. Loan programs cap how much a seller can contribute, so ask your lender for the limit before you write the offer. Enter your expected costs in the closing cost calculator, then subtract the concession to see your real cash to close. For full monthly payment examples at a higher price, see our mortgage on a 500k house guide.
Closing timeline: when each cost shows up
- At application: credit report fee and sometimes an application fee.
- Within 3 business days: you receive the Loan Estimate.
- After the offer is accepted: earnest money deposit (credited toward your cash to close), inspection and appraisal.
- At least 3 business days before closing: the Closing Disclosure with final numbers.
- Closing day: you wire or bring certified funds for the remaining cash to close. Confirm wiring instructions by phone with your title or escrow company to avoid wire fraud.
Common closing cost mistakes
- Saving only for the down payment. Closing costs and prepaids can add thousands more.
- Not comparing Loan Estimates. Lender fees and rates can vary noticeably between lenders.
- Ignoring escrow. High property taxes or insurance raise prepaids even when lender fees are low.
- Opening new credit before closing. A new car loan or card can change your approval.
- Skipping the Closing Disclosure review. Compare it line by line with your Loan Estimate and ask about changes.
Run the closing cost calculator again whenever your price, down payment or lender changes, so your cash to close never surprises you. If you are still choosing a loan type, see our FHA vs conventional loan guide.
Helpful resources: For more on closing cost calculator, see the Consumer Financial Protection Bureau and U.S. Department of Housing and Urban Development.
Closing cost calculator: frequently asked questions
How much are closing costs for a buyer?
Usually about 2% to 5% of the loan amount. On a $300,000 loan that is roughly $6,000 to $15,000.
What are closing costs made of?
Lender fees, appraisal, credit report, title search and insurance, settlement fees, recording fees, transfer taxes in some states, and prepaid interest, insurance and property tax escrow.
Can closing costs be rolled into the mortgage?
Sometimes. Some loans allow financing certain costs, and lender credits or seller concessions can cover part of them. On a purchase, most buyers pay closing costs in cash.
Who pays closing costs, buyer or seller?
Both pay some costs. Buyers usually pay lender and title-related costs; sellers usually pay agent commissions. Who pays transfer taxes depends on the state and the contract.
How much cash do I need to close on a $350,000 house?
With 10% down, plan on the $35,000 down payment plus closing costs of about 2% to 5% of the $315,000 loan ($6,300 to $15,750). In this guide’s middle-of-range example, total cash to close is about $44,000. Use the closing cost calculator above with your own numbers.
Is the earnest money deposit part of closing costs?
No. Earnest money is a good-faith deposit made after your offer is accepted, and it is usually credited toward your down payment or closing costs at closing, which lowers the cash you bring that day.
Sources: Consumer Financial Protection Bureau, HUD. Prices are national planning ranges, not quotes. See how we research costs.
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