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Home closing cost calculator

Use this calculator to help estimate the total closing cost to purchase a home. This is an estimate of how much you will need on the day your home purchase is made. Please remember that this is an estimate, the actual fees and expenses may change depending on a variety of factors including the actual closing date. Below is a summary of the inputs and calculations used to create this estimate.

Home closing cost calculator Definitions

First payment due
This is the date that the first payment for the home's mortgage is due. It is typically the first day of second month following the closing date. For example, if the closing date is March 15th, the first payment date would typically be May 1st.
Estimated closing date
The estimated date that the actual home sale will take place. This date is used to determine the prepaid interest due on the mortgage and the first payment date.
Sale price
Price that will be paid for the home. This is the actual price of the home before any fees or expenses.
Down payment
Total amount paid at the time of closing towards the sale price of the home. A minimum down payment is usually required, and can vary depending on the type of loan. This calculator does not determine any minimum down payment amount.
Loan amount
Total loan amount after down payment and any financed fees.
Loan term
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
Interest rate
Annual fixed interest rate for this mortgage.
VA status
This is only used if the type of home purchase is Veterans Affairs (VA) loan. The VA status is used to determine the VA funding fee.
VA loan use
This is only used if the type of home purchase is Veterans Affairs (VA) loan. The VA loan use is used to determine the VA funding fee.
Finance VA funding fee
This is only used if the type of home purchase is Veterans Affairs (VA) loan. Choosing 'Yes' will include the fee in the loan balance, which will make the monthly payment of principal and interest higher but lower the required cash at closing.
VA funding fee
This is only used if the type of home purchase is Veterans Affairs (VA) loan. The VA funding fee is calculated based on the VA status and loan use selected. It is a required fee to be paid to receive a VA loan.
Annual property tax
The annual property taxes paid for this home.
Property taxes paid through
Date that you have paid your property taxes through. This date is used to determine the prorated amount you will be credited at your closing.
Annual homeowner's insurance
The homeowner's annual insurance premium.
Monthly association dues
The monthly association dues, if any, for this home.
Annual flood insurance
Flood insurance annual premium. Only enter an amount if flood insurance is required.
Months of escrow
Number of months worth of insurance and property tax payments required to be deposited in an escrow account for future payments.
Earnest deposit
This is any deposit made with the seller as part of the original purchase agreement. Earnest money is be used to offset any closing costs, expenses and down payment requirements.
Commitment fee
Any additional fee paid in advance that can be used to offset closing costs and expenses.
Points paid by seller
Points are paid to receive a lower interest rate. Each point costs 1% of the mortgage balance. Points paid by the seller appear a credit at closing.
Closing costs paid by seller
Any amount of closing costs to be paid by seller. This is used to offset expenses and closing costs that are due from buyer at closing.
Other credits
Any other credit received at closing to offset expenses and closing costs.
Principal and interest
Monthly principal and interest payment due for the loan.
Prepaid interest
Interest for the loan paid at closing. This is typically the interest due for the partial month between the closing date and the first day of the next month.
Mortgage insurance (PMI)
Monthly Private Mortgage Insurance (PMI) payment due to lender.
Points paid by buyer
Points are paid to receive a lower interest rate. Each point costs 1% of the mortgage balance. Points paid by the buyer are an expense due at closing.
Application fee
Application fee for the loan required to be paid by the buyer
Origination fee
Origination fee required to be paid by the buyer.
Appraisal fee
Appraisal fee or expense required to be paid by the buyer.
Credit report
Credit report expenses required to be paid by the buyer.
Lender's inspection fee
Lender's inspection fee required to be paid by the buyer.
Lender's attorney fee
Lender's attorney fee required to be paid by the buyer.
Assumption fee
Assumption fee required to be paid by the buyer.
Other loan costs
Other loan costs required to be paid by the buyer.
Abstract or title search
Abstract or title search fees required to be paid by the buyer.
Title insurance
Title insurance expense required to be paid by the buyer.
Title examination
Title examination fees required to be paid by the buyer.
Document preparation
Document preparation fees required to be paid by the buyer.
Notary fees
Notary fees required to be paid by the buyer.
Attorney's fees
Attorney's fees required to be paid by the buyer.
Other fees
Other title fees required to be paid by the buyer.
Recording fees
Recording fees required to be paid by the buyer.
City/County tax or stamps
City/County tax or stamps required to be paid by the buyer.
State tax or stamps
State tax or stamps required to be paid by the buyer.
Other government fees
Other government fees required to be paid by the buyer.
Survey
Survey fee required to be paid by the buyer.
Pest inspection
Pest inspection fee required to be paid by the buyer.
Flood determination fee
Flood determination fee required to be paid by the buyer.
Settlement or closing fee
Settlement or closing fee required to be paid by the buyer.
Broker fees
Broker fees required to be paid by the buyer.
Other
Any additional fee required to be paid by the buyer.