Closing Costs Calculator

The following price information is designed to help borrowers understand the types of closing costs involved in obtaining a first mortgage. The costs will vary depending on the city, county, type of mortgage and loan amount. Ask the relevant advisor for more accurate pricing before making any decisions!

Items Payable in Connection With Your Loan
Loan Origination Fee-Typically 1% of the loan amount ( $100,000 loan would be $1,000).
Appraisal Fee $275.00
Credit Report $65.00
Tax Service Fee $70.00
Underwriting Fee $300.00
Flood Certificate $25.00

Pre Paid Items
Interest-will be between 1-30 days, depending on when in the month you close
Hazard Insurance - 1 year premium

Reserves
Hazard Insurance - 2 Months
Taxes - 2 Months
Mortgage Insurance - 2 Months if applicable

Title Charges
Closing Fee $125.00
Title Policy $75.00-$750+ Depending on loan amount, purchase or refinance
Endorsements $75.00
Courier Fee $20.00

Recording & Transfer Fees
Recording Fees $45.00
Documentary stamps (varies by state)
Intangible tax and stamps on mortgage (varies by state)

Additional Charges
Survey $100.00

 

 
Purchase Price $

 
Percent Down Payment                    
Down Payment $

 
Loan Amount $

 
Percent  Closing Costs                %     
Closing Costs* $

 
Appraisal Fee* $  
Credit Report Fee* $  
Inspection Fee* $  
Moving-In Costs $  
Total Closing Costs* $

 
This calculator will help you to determine the amount of cash needed for the home purchase

1 - Purchase Price:
Enter the Purchase Price from the Down Payment Calculator.

2 - Down Payment:
Enter the Down Payment percentage you are making. The Loan Amount and other numbers automatically recalculate if you change the purchase price or down payment percentage.

3 - Appraisal, Credit Report and Inspection Fees:
The Appraisal Fee, Credit Report Fee, and Inspection Fee default to $275.00, $65.00, and $175.00 (this is an estimated amount). You may change any or all of these entries.

4 - Closing Costs:
The Closing Costs are automatically calculated on 4% of the Purchase Price. This is a guesstimate only but includes documentary taxes, title insurance, intangible taxes, escrows for property taxes and insurance. Remember to increase this number if you are paying points on your loan.

5 - Moving-In Costs:
These include the moving van, deposits on electric and other services, purchase you will be making such as furniture, dishwasher, washing machine, dryer, etc. Enter the amount in Moving-In Costs.

6 - Calculate:
The values are updated as you tab from entry to entry.

* Fees are estimates - check with your lender for actual fees.