Closing costs catch many buyers and sellers off guard. This calculator estimates both buyer and seller closing costs based on your home price and loan amount, breaking down every line item so you know exactly what to expect at the closing table.
Buyer closing costs typically range from 2–5% of the home price. On a $400,000 home, expect to pay $8,000–$20,000 at closing. The largest items are usually the loan origination fee, title insurance, and prepaid escrow items.
Seller closing costs typically range from 6–10% of the sale price. The largest single expense is usually the real estate agent commission, which averages 5–6% nationally. Transfer taxes and title fees add another 0.5–1%.
Some lenders allow you to roll closing costs into the loan amount, which increases your principal and monthly payment. Alternatively, you can accept a slightly higher interest rate in exchange for lender credits that cover some or all closing costs.
A Loan Estimate is a standardized three-page document lenders must provide within three business days of receiving your mortgage application. It itemizes all estimated closing costs, your interest rate, monthly payment, and cash needed at closing.
Some closing costs are fixed (government fees, recording costs) but many are negotiable. You can shop for your own title company in most states, negotiate the origination fee, and ask the seller to cover some costs via concessions.
Lender's title insurance is required by almost all lenders and protects the lender against title defects. Owner's title insurance is optional but recommended — it protects you against claims against your ownership that arose before your purchase.