Buyer closing costs are estimated as a percentage of the loan amount or home price depending on the fee type. Loan origination fees commonly run 0.5–1% of the loan amount. Title insurance varies by state; a common starting point is around 0.5% of the loan for the lender policy and 0.35% of the home price for the owner policy. Escrow and settlement fees commonly run $400–$800. Recording fees are often $100–$250. Prepaid interest covers the days between closing and your first payment. Prepaid insurance covers the first year upfront.
Seller closing costs are dominated by the agent commission, and this calculator starts from an adjustable figure rather than a national average, because there is no standard rate. Commission is negotiated in your listing agreement, and the August 2024 changes to how buyer-agent compensation is handled unsettled the old assumptions, so replace the starting figure with the rate in your agreement. Transfer taxes and title transfer fees vary by state, county, and city, and some places charge none. Seller concessions are negotiated and depend on the deal.
The figures here are starting points, not national averages, and this calculator does not claim they are. Actual costs vary by state, lender, and negotiation, and some fees (like transfer taxes and recording fees) are set by local law. Replace the defaults with your own numbers: request a Loan Estimate from your lender for the buyer-side costs, and get the transfer tax and closing fees from your title company or closing attorney.
See our full methodology and data sources
Related reading: What costs do buyers forget when purchasing a home?