Closing costs calculator
Cash needed at signing
- Down payment
- $40,000
- Lender fees
- $4,800
- Title and escrow
- $2,500
- Prepaids
- $3,500
- Total closing costs
- $10,800
- Cash needed at signing
- $50,800
Closing costs usually land between 2% and 5% of the purchase price. Your loan estimate lists the real figures line by line.
The short answer
Closing costs typically run 2% to 5% of the purchase price on top of the down payment. Enter your numbers below to see the total cash needed at signing.
Today's best 30-year fixed mortgage rates
Rates shown are indicative national averages. Your own rate depends on credit score, down payment, loan size and location — a lender quote is the only number that binds.
| Loan type | Interest rate | APR | What it means |
|---|---|---|---|
| 30-year fixed | 6.42% | 6.55% | Lowest monthly payment, most interest paid overall |
| 20-year fixed | 6.18% | 6.33% | Middle ground on payment and total interest |
| 15-year fixed | 5.61% | 5.79% | Highest payment, far less interest |
| FHA 30-year fixed | 6.12% | 7.03% | Lower credit score bar, mortgage insurance applies |
| VA 30-year fixed | 5.98% | 6.24% | Eligible service members, usually no down payment |
| 5/1 ARM | 6.05% | 7.11% | Fixed for five years, then adjusts |
What is in a closing cost bill
Origination fee and discount points charged by the lender.
Appraisal, credit report and underwriting fees.
Title search, title insurance, escrow and recording fees.
Prepaid property tax and the first year of homeowners insurance.
Ways to reduce them
Compare loan estimates from at least three lenders — origination charges vary widely for the same loan. Seller concessions, lender credits in exchange for a slightly higher rate, and shopping your own title company are the usual levers.
The formula
Cash to close = down payment + lender fees + title and escrow + prepaid taxes and insurance.
FAQ
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