Housing & Real EstateTool Review

Closing Costs Calculator

Provided byNerdWallet Financial Calculatorsnerdwallet.com

Estimates mortgage closing costs including origination fees, title insurance, and escrow.

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About this tool

What Closing Costs Calculator does

A closing costs calculator that estimates the total expenses required to finalize a home purchase. Users input home price, down payment, interest rate, and whether they plan to purchase discount points to receive an estimated breakdown of mandatory financial requirements. The tool separates costs into categories such as shoppable services and fixed-price items, and provides the total cost both in dollars and as a percentage of the loan amount, typically ranging from 2% to 6%. It also explains common closing cost components like home appraisal, title insurance, loan origination, property taxes, and home insurance, and references the lender-provided Loan Estimate document.

Step by step

How to use the NerdWallet Financial Calculators Closing Costs Calculator

  1. 1

    Enter the estimated price of the home you want to buy

  2. 2

    Input your down payment amount

  3. 3

    Provide your interest rate or view current mortgage rates

  4. 4

    Indicate whether you plan to purchase discount points

  5. 5

    View the estimated total closing costs and itemized breakdown of typical fees

Is it right for you

Best for

First-time homebuyers and seasoned investors who need a quick estimate of closing expenses and want to compare shoppable versus fixed-price fees before applying for a mortgage.

Limitations

  • Results are estimates based on user-provided inputs
  • Does not include all possible local or government fees
  • Actual closing costs vary by location, loan type, and lender
Questions

Closing Costs Calculator FAQ

What closing costs does this calculator estimate?
The calculator estimates typical closing costs including home appraisal, title insurance, loan origination fees, property taxes, and home insurance, separating them into shoppable services and fixed-price items.
Can I use this calculator if I haven't chosen a lender yet?
Yes, you can enter estimates for interest rate and discount points, but your actual costs will be determined by your lender and local regulations after you apply for a mortgage.
How accurate are the closing cost estimates provided?
The estimates are based on national averages and user inputs; actual closing costs will be specified in your lender's Loan Estimate document after you apply for a mortgage.
What is the typical range for closing costs as a percentage of the loan amount?
Closing costs generally range from 2% to 6% of the loan amount, though this varies by location and loan type.
Other Options

More Closing Costs Calculator tools

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  1. Financial Toolset
    financialtoolset.com

    Estimate closing costs for home purchase. Calculate lender fees, title insurance, appraisal, and prepaid costs. Free ...

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