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Closing Cost Calculator

Estimate total closing costs when buying a home. See a detailed breakdown of fees including origination, title insurance, escrow, and more.

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How to Use This Calculator

Closing costs are the fees and expenses you pay to finalize a real estate transaction, typically ranging from 2% to 5% of the home purchase price. These costs are separate from your down payment and are due on closing day. This calculator provides an itemized estimate of the most common closing costs so you can budget accurately and avoid surprises at the closing table. The fees include lender charges like origination fees and credit reports, third-party services like appraisals and title insurance, government fees like recording costs, and prepaid items like property taxes and homeowners insurance that go into your escrow account. First-time buyers are often caught off guard by closing costs because they focus only on the down payment. On a $350,000 home, closing costs might add $10,000 to $17,500 on top of your down payment. Some costs are negotiable (origination fees, title company selection), and some sellers will agree to pay a portion of buyer closing costs as part of the purchase agreement. Understanding each line item gives you leverage to negotiate and potentially save thousands.

Frequently Asked Questions

What are typical closing costs for a home purchase?
Closing costs typically range from 2% to 5% of the home purchase price. On a $350,000 home, expect $7,000 to $17,500. The exact amount depends on your location, lender, loan type, and whether you negotiate seller concessions. Common costs include origination fees (1% of loan), appraisal ($400-$600), title insurance (0.5% of price), and escrow deposits.
Can the seller pay my closing costs?
Yes, seller concessions are common and negotiable. Conventional loans typically allow sellers to pay up to 3% of the purchase price toward buyer closing costs (6% with 10-25% down, 9% with 25%+ down). FHA allows up to 6%, and VA loans allow up to 4%. In a buyer's market, sellers are more likely to agree to concessions. This is written into the purchase agreement.
Are closing costs tax deductible?
Some closing costs are tax deductible, including mortgage interest paid at closing (prepaid interest), property taxes paid at closing, and points paid to lower your interest rate. Other costs like title insurance, appraisal fees, and recording fees are not deductible but are added to your cost basis when you sell the home.

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