Closing Cost Calculator
Estimate total mortgage closing costs from lender fees, third-party fees, discount points, and prepaid items, and see them as a percentage of the price.
Independently verified for accuracy
Calculator by Toolsloft ↗- Points cost
- $3,200.00
- Total closing costs
- $13,000.00
- Percent of price
- 3.25%
This calculator adds up the cash you need at a mortgage closing: lender fees, third-party fees, discount points, and prepaid items like taxes and insurance. Use it to budget for closing day and to see what those costs are as a share of the purchase price.
How this is calculated
Discount points are charged as a percentage of the loan amount, so the points cost is the loan times the points percentage. Total closing costs are the sum of lender fees, third-party fees, points, and prepaids, and the percentage figure divides that total by the home price.
How to use
- Enter the home price and loan amount.
- Enter lender fees, third-party fees, discount points, and prepaid items.
- Read the points cost, total closing costs, and percentage of the price.
Examples
- $400k price, $320k loan, 1 point:
$13,000 (3.25%) - $250k price, no points:
$6,000 (2.40%)
FAQ
- What are typical closing costs?
- Closing costs commonly run 2% to 5% of the purchase price, depending on the loan, the lender, and local taxes. This tool sums the figures you enter rather than guessing them.
- How are discount points priced?
- One point equals 1% of the loan amount. On a $320,000 loan, one point costs $3,200 and usually buys a small reduction in your interest rate.
- Do closing costs include the down payment?
- No. The down payment is separate. Closing costs are the fees and prepaid items charged to finalize the loan and transfer the property.