Closing Costs Calculator
Estimate all closing costs when buying a home. Get a detailed breakdown of fees from lender charges to title insurance and prepaid items.
Closing Costs Explained
What Are Closing Costs?
Closing costs are fees and expenses paid at the final step of a real estate transaction. They typically range from 2-5% of the home price and include lender fees, title insurance, appraisal, inspections, prepaid taxes and insurance, and government recording fees.
Who Pays Closing Costs?
Both buyers and sellers pay closing costs, but the breakdown varies. Buyers typically pay lender fees, title insurance, prepaid items, and inspections. Sellers usually pay real estate commissions and transfer taxes. Some costs are negotiable.
How to Reduce Closing Costs
Negotiate with the seller for credits, shop around for lender fees and title insurance, ask about lender credits (slightly higher rate in exchange for lower fees), consider a no-closing-cost mortgage, and close near the end of the month to reduce prepaid interest.