Free Closing Cost Calculator (+ Guide)

What is a closing cost calculator?

A closing cost calculator totals the fees and prepaid items you pay when a home purchase closes, on top of the down payment.

They pay the lender, the title company, the appraiser, the government, and the first months of taxes and insurance.

How to use the closing cost calculator

You need the price and the loan, and your Loan Estimate if you have one.

The Consumer Financial Protection Bureau's Loan Estimate explainer shows where each section sits on the form.

A worked example

Here's the example the calculator loads when you press Try an example: a $400,000 home with a $320,000 loan and $1,000 of credits.

Loan costs are $5,300 and other costs $4,900, so $10,200 in all: 3.2% of the loan, inside the usual range. With $80,000 down and $1,000 of credits, the buyer brings $89,200 to closing.

Where you can save

Not every line can move, but some can.

Shop section C

Title services and the survey are on the list your lender gives you, and you can pick others.

Ask about section A

Origination charges and points differ between lenders. Compare 2 or 3 Loan Estimates.

Ask for credits

A seller may pay part of your closing costs, especially in a slow market.

Mistakes to avoid

These are the ways closing day surprises buyers.

• Budgeting for the down payment alone
• Treating prepaids and escrow as fees, when they're your own taxes and insurance paid ahead
• Not comparing Loan Estimates from different lenders
• Wiring money without calling the title company to confirm the details

Who is the closing cost calculator for?

It's for home buyers from offer to closing, and these tools cover the rest.

• Mortgage calculator – for the monthly payment
• Down payment calculator – for the money you put down
• Home affordability calculator – for the price you can carry
• Percentage calculator – for any fee as a percent
• Net worth tracker – for your equity after you move in

Copy the Loan Estimate in, and closing day holds no surprises.