Closing Costs Calculator

Build an itemized, editable purchase scenario. Fees, prepaids, initial escrow and down payment are separate. Credits and earnest deposits reduce cash due without being counted twice. This is illustrative, not a lender quote or statewide observed average.

Planning geography

Selecting a state supplies a historical ACS home-value anchor and tax benchmark, not verified state fees. Existing saved calculator inputs are not migrated to this different scenario schema. These edited assumptions stay in this tab only.

Edit your purchase and closing scenario

Illustrative planning only for United States (illustrative). The initial $350,000 price and 1% tax budget are editable assumptions, not national or local market observations. No local fee schedule or lender quote is assumed.

Purchase price ($)Down payment (%)Illustrative annual interest (%)Annual property-tax budget (%)Annual insurance premium ($)Lender origination allowance ($)Discount points (% of loan)Other service fees allowance ($)Government/transfer allowance ($)Buyer's share of fees (%)Prepaid interest daysInitial escrow monthsLender/seller credits ($)Earnest deposit already paid ($)

Planning monthly payment: $2,211. Principal, interest, tax budget and insurance only; excludes HOA and mortgage insurance. 30-year term.

Loan amount: $280,000
Buyer-paid loan/services/government fees: $5,700
Prepaids (interest + annual insurance): $2,548
Initial tax/insurance escrow: $1,325
Down payment (separate from fees): $70,000
Credits applied: $0
Deposit already paid: $0
Estimated remaining cash to close: $79,573

Fee-only planning range: $4,275 to $8,550. Not a confidence interval. Cash to close excludes unknown charges until you include them in the allowances.

Lender origination allowance: $1,200 before buyer-share allocation
Discount points assumption: $0 before buyer-share allocation
Appraisal, title, settlement and other service allowance: $2,500 before buyer-share allocation
Government/transfer allowance (not a verified fee schedule): $2,000 before buyer-share allocation

Unknown, not assumed waived: Actual local recording/transfer rules and buyer allocation; Inspections, survey, attorney, special assessments, HOA and lender-required charges; Loan-program upfront fees, mortgage insurance and actual escrow requirements.

Sources, dates and planning methodology

Historical ACS survey estimates cover 2020–2024, through 2024-12-31. Retrieved 2026-10-15, not a current market observation date. Method: financial-planning-1. These estimates describe owner-occupied homes, not homes sold or a lender appraisal.

Tax benchmark = 100 × median annual real estate taxes paid (B25103 total) ÷ median owner-occupied home value (B25077), for the same state, universe and ACS five-year release. A ratio of medians is not the median effective tax rate, millage or a prediction of post-sale taxes. Ask the assessor about reassessment, exemptions and special assessments.

Closing fees are an itemized illustrative scenario, not statewide observed averages or verified state fee schedules. State scenarios use historical home value as an editable price anchor. The national default is an illustrative $350,000 price and 1% tax budget, not a sourced national statistic. Default rate 6.5% is an assumption, not a quote or current national average. Loan/service allowances: $1200 origination and $2500 other services; government allowance $2000. Replace these with property-specific, dated fees. No verified state fee schedule is applied.

Fee planning range uses 75% to 150% of the selected buyer-paid fee budget. It is a sensitivity range, not a statistical confidence interval and may not bound actual costs. Prepaids assume 15 days of interest and one annual insurance premium; initial escrow assumes 3 months of taxes and insurance. The prepaid premium and escrow reserve are separate periods, not two premiums. Actual lender requirements and closing dates differ.

Credits cannot reduce the down payment in this model. Deposits reduce cash due once. Financing fees, mortgage insurance, inspections, survey, HOA, attorney and special assessments remain unknown unless included in your edited allowances. Unknown does not mean $0 or waived. Confirm actual buyer responsibility, credit restrictions and final cash to close on the Loan Estimate and Closing Disclosure.

Affordability is a hypothetical payment-to-income comparison, not a measurement of actual household housing-cost burdens. Household income (B19013) covers all households in 2024 inflation-adjusted dollars; owner values/taxes cover owner-occupied homes. No local lender quote, eligibility or sale-price median is inferred. Historical affordability records and rate archives are separate and are not recalculated with this dataset.

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Frequently asked questions

How should I estimate closing costs?

Use a dated Loan Estimate with the same price, loan amount, product, points and lock period. This calculator uses transparent fee allowances, not statewide observed averages. Its fee-only sensitivity range excludes prepaids, initial escrow and down payment and is not a statistical confidence interval. Confirm local government charges and who pays each fee.

Can closing costs be rolled into the loan?

Financing closing costs depends on the transaction, loan program and lender requirements. Seller or lender credits may cover eligible charges, subject to program limits and contract terms, but they are not an automatic reduction in required down payment. The purchase scenario caps credits at modeled fees, prepaids and escrow; earnest deposits reduce cash due only once.

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