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.