Closing Cost Calculator
Estimate your closing costs based on the home price and a closing cost percentage rate.
Closing Cost Calculator
Estimate your closing costs based on the home price and a closing cost percentage rate.
Real-World Examples
Home price: $400,000, closing rate: 3%
Closing costs: $12,000, total: $412,000
Home price: $500,000, closing rate: 4%
Closing costs: $20,000, total: $520,000
Home price: $250,000, closing rate: 2.5%
Closing costs: $6,250, total: $256,250
Common Mistakes to Avoid
Forgetting that closing costs are separate from the down payment
Fix: Closing costs are paid on top of your down payment at closing. A 20% down payment plus 3% closing costs means you need 23% of the home price in cash, not 20%.
Underestimating the closing cost rate
Fix: Closing costs typically run 2-5% of the home price. Using a low estimate leaves you short at closing. Budget on the higher end (3-5%) to be safe.
Overlooking prepaid items
Fix: Closing costs often include prepaid property taxes, homeowners insurance, and interest. These "prepaids" can add thousands and are due at closing, not rolled into the loan.