Closing Cost Calculator

What are closing costs?

Closing costs are the fees a buyer pays at the close of a US real estate transaction — separate from and on top of the down payment. Nationally they average 2–5% of the purchase price, but the range varies dramatically by state. Buyers in Delaware (4.5%), New York (4.0%), and DC (4.0%) pay more than twice what buyers in Indiana (1.9%) or Missouri (1.6%) pay on the same home.

The seven biggest closing-cost line items

1. Lender origination fee (0.5–1.5% of loan) — the lender's charge for processing your mortgage.
2. Title insurance (0.3–0.7% of price) — owner's and lender's policies protecting against title defects.
3. State transfer tax (0–4%) — paid to the state when title transfers; varies enormously by state.
4. Appraisal ($500–$700) — required by lender to confirm the home is worth the loan amount.
5. Home inspection ($400–$600) — buyer's due diligence on the property condition.
6. Recording fees ($100–$250) — flat fees paid to the county to record the deed and mortgage.
7. Prepaid escrow (varies) — first months of property tax, homeowners insurance, and prepaid interest from closing day to month-end.

Closing costs by state

Quick reference for buyer closing costs as a percentage of purchase price: