Closing Cost Calculator
Quick answer
Enter loan amount, estimated lender fees, title, recording, and prepaid interest/taxes/insurance. Total cash to close ≈ down payment + net closing costs + prepaids (simplified).
For a related estimate, see Home Affordability With Taxes.
Explore further: Property Tax Calculator · 20 Percent Down Calculator
Why prepaids spike cash to close
Escrow setup may collect several months of taxes and insurance up front. That is cash today even if monthly escrow later smooths it out.
Explore further: Biweekly Mortgage Calculator · Debt To Income Calculator
Primary angle: cash to close—down payment plus lender/title/recording fees plus prepaids (interest, escrow seed). This is not your monthly P&I; it is the lump hurdle at signing. Underestimate prepaids and you can “afford the loan” yet still fail the closing table.
How to use this calculator
- Separate recurring vs one-time: Prepaid interest and initial escrow funding are front-loaded; they are not the same as “junk fees” over the life of the loan.
- Compare LE line items: When you have a Loan Estimate, replace placeholders with actual Section A–J style thinking.
- Roll-in vs pay upfront: Financing closing costs raises loan amount and interest—run both if offered.
Real-world examples
- Example: $11,400 lender/title + $4,800 prepaids, $68k down: Cash to close ballpark $84.2k before moving costs and reserves—prepaids are real cash even if monthly escrow later smooths tax (illustrative).
- Sensitivity check: Nudge the rate by about +0.5% and the principal by about −5%. If the payment, break-even, or target amount moves enough to change your decision, you are still on a steep part of the curve where small inputs matter.
Explore further: Down Payment Calculator
What this means
DTI tests the monthly payment, not the wire at closing—under-budget prepaids and you can be “approved” but still short cash to fund escrow and close.
FAQ
Are closing costs negotiable?
Some fees are shop-able (title, some third parties). Others are market-driven. Compare LEs from multiple lenders.
Is this a loan commitment?
No. Outputs are educational estimates. Final payments, APR, and fees come from your lender’s disclosures.
Why does my amortization schedule differ slightly?
Rounding, day-count conventions, and first-payment timing shift pennies. Use the schedule for directionally correct totals.