Closing Costs Calculator

Understanding Closing Costs

Closing costs are fees and expenses you pay when finalizing a real estate transaction. These costs typically range from 2-5% of the home's purchase price for buyers and 6-10% for sellers.

Common Buyer Closing Costs

• Loan Origination Fee: Typically 0.5-1% of loan amount, charged by lender for processing your loan
• Appraisal Fee: $300-$600 to determine the home's market value
• Credit Report: $25-$75 for lender to check your credit history
• Title Insurance: 0.5-1% of purchase price to protect against title defects
• Escrow Fee: $500-$2,000 for neutral third party to handle transaction
• Recording Fees: $100-$300 to record the deed with local government
• Prepaid Property Taxes: Usually 2-6 months upfront
• Prepaid Home Insurance: First year's premium
• Mortgage Insurance: Required if down payment is less than 20%

Common Seller Closing Costs

• Agent Commission: Typically 5-6% of sale price, split between buyer's and seller's agents
• Title Search: $200-$400 to verify clear ownership
• Transfer Tax: Varies by state/county, usually 0.1-2% of sale price
• Property Survey: $300-$600 to establish property boundaries
• Attorney Fees: $500-$1,500 if required in your state
• HOA Documentation: $200-$500 for HOA documents and transfer fees

Tips to Reduce Closing Costs

Closing Cost Timeline