Free Buyer Closing Cost Calculator
Estimate the total cash needed at closing as a buyer, including down payment, lender fees, prepaids, and other closing costs.
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Total Cash Needed at Closing
$49,500
Down Payment$40,000
Gross Closing Costs$9,500
Net Closing Costs (after seller credit)$9,500
Closing Costs as % of Purchase2.38%
Loan Amount$360,000
Total Cash Needed at Closing vs Prepaid Tax (months)
Buyer Closing Costs
Buyers need to bring the down payment plus closing costs to the closing table. Understanding total cash requirements prevents surprises.
Cash Needed = Down Payment + Closing Costs - Seller Credits
Buyer Closing Cost Categories
Typical Buyer Closing Costs
Buyer closing costs (excluding down payment) typically range from 2% to 5% of the purchase price. First-time buyer programs may offer assistance to reduce these costs.
Example Calculation
A $400,000 home with 10% down. Origination 1%, appraisal $500, inspection $400, title $2,200, 3 months tax at $350, 14 months insurance at $125. No seller credit.
- 01Down payment: $400,000 x 10% = $40,000
- 02Loan amount: $400,000 - $40,000 = $360,000
- 03Origination fee: $360,000 x 1% = $3,600
- 04Prepaid taxes: 3 x $350 = $1,050
- 05Prepaid insurance: 14 x $125 = $1,750
- 06Total closing costs: $3,600 + $500 + $400 + $800 + $1,400 + $1,050 + $1,750 = $9,500
- 07Total cash needed: $40,000 + $9,500 = $49,500
- 08Closing costs as % of purchase: 2.38%