Closing costs are easy to overlook when budgeting for a home purchase. This calculator estimates upfront closing fees and total cash needed at closing alongside your down payment.
How to use this calculator
- Enter the purchase price of the home.
- Enter your planned down payment.
- Enter estimated closing costs as a percentage of home price (typically 2–5%).
- Review closing costs, loan amount, and total cash required.
Formula
Loan amount = Home price − Down payment. Estimated closing costs = Home price × (Closing cost % ÷ 100). Cash required at closing = Down payment + Estimated closing costs.
Example
A $400,000 home with $80,000 down and 3% closing costs estimates $12,000 in fees and $92,000 total cash at closing before escrows or prepaids.
Frequently asked questions
- What is included in closing costs?
- Closing costs may include lender fees, appraisal, title insurance, escrow, recording fees, and prepaid items. This calculator uses a percentage estimate — ask your lender for a Loan Estimate.
- Are closing costs paid in cash?
- Yes, closing costs are typically paid at closing in addition to your down payment, unless rolled into the loan (where allowed).
- What closing cost percentage should I use?
- Many buyers use 2–5% of the home price as a planning estimate. Actual costs vary by state, lender, and loan type.
- Does this include moving or repair costs?
- No. Budget separately for moving, immediate repairs, furniture, and an emergency fund after closing.