Costs and break-even
Closing Cost Calculator for Home Buyers: Fees and Cash to Close
Get a planning range for your closing costs and the total cash you will need on closing day, before you have a Loan Estimate in hand.
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Closing costs
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In plain words
On a $400,000 home with 5% down, your loan is $380,000. Closing costs could run from $8,000 to $20,000, including $0 for points, so plan for $28,000 to $40,000 in total cash at closing.
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Key figures
- Cash to close (high)$40,000
- Cash to close (low)$28,000
- Closing costs (low estimate)$8,000
- Closing costs (high estimate)$20,000
- Down payment$20,000
- Down payment$20,00059%
- Closing costs (midpoint)$14,00041%
- Cash to close (low)
- Cash to close (high)
View chart as table
| Down payment (%) | Cash to close (low) | Cash to close (high) |
|---|---|---|
| Down payment (%) 3.5% | $22,000 | $34,000 |
| Down payment (%) 5% | $28,000 | $40,000 |
| Down payment (%) 10% | $48,000 | $60,000 |
| Down payment (%) 20% | $88,000 | $100,000 |
Compare down payments
| Scenario | Down payment | Closing costs (low estimate) | Closing costs (high estimate) | Cash to close (low) | Cash to close (high) |
|---|---|---|---|---|---|
| 3.5% | $14,000 | $8,000 | $20,000 | $22,000 | $34,000 |
| 5% | $20,000 | $8,000 | $20,000 | $28,000 | $40,000 |
| 10% | $40,000 | $8,000 | $20,000 | $48,000 | $60,000 |
| 20% | $80,000 | $8,000 | $20,000 | $88,000 | $100,000 |
How to use this calculator
- Enter the home price and your down payment percentage.
- Set a low and a high closing cost percentage for your planning range.
- Enter any discount points you plan to buy, as a percentage of the loan.
- Read the closing cost range and the total cash you should have ready at closing.
The down payment gets most of the attention, but closing costs can add thousands of dollars to the money you need on closing day. This calculator gives you a low and a high estimate so you can save with a margin, then narrow the range once a lender sends you a Loan Estimate.
How this closing cost calculator works
The calculator works out your loan amount and the cost of any discount points, then applies your low and high percentages to the price:
Loan = price × (1 − down payment %)
Points cost = loan × points %
Closing costs = price × closing cost % + points cost
Cash to close = price × down payment % + closing costs
It runs the last two lines twice, once with your low percentage and once with your high one. Points are based on the loan amount, because one point equals 1% of the loan, while the other costs are estimated from the price.
Worked examples
Example 1: $400,000 home, 5% down, no points
Assume a $400,000 home, 5% down and a planning range of 2% to 5%.
- Down payment: $400,000 × 5% = $20,000. Loan: $380,000.
- Low closing costs: $400,000 × 2% = $8,000.
- High closing costs: $400,000 × 5% = $20,000.
- Cash to close: $20,000 + $8,000 = $28,000 at the low end, and $20,000 + $20,000 = $40,000 at the high end.
A $12,000 spread is wide, which is the point at this early stage. Plan for the high end until a Loan Estimate tells you otherwise.
Example 2: $300,000 home, 3.5% down, one discount point
The buyer puts 3.5% down ($10,500), so the loan is $289,500. One point costs $289,500 × 1% = $2,895. With the same 2% to 5% range, closing costs run from $6,000 + $2,895 = $8,895 to $15,000 + $2,895 = $17,895. Cash to close runs from $19,395 to $28,395. Buying the point adds almost $3,000 to the cash needed, so check how long it takes to earn that back with the points break-even calculator.
What your result means
The closing cost range covers fees and prepaid items. The cash to close range is what you should have in the bank, before any earnest money you already paid or credits you negotiate. If the high end is more than you have, you have four main levers: a lower price, a smaller down payment percentage (if your loan program allows it), seller or lender credits, or closing cost assistance.
Keep the high figure in mind when you make an offer. Asking the seller for a credit is easier during negotiation than after the contract is signed.
Program rules that change the answer
| Loan type | Program fee at closing | Can it be financed? | Seller help |
|---|---|---|---|
| Conventional | None; PMI is paid monthly in most cases | Not applicable | Allowed up to limits tied to down payment |
| FHA | Upfront MIP of 1.75% of the base loan | Usually yes | Allowed up to HUD’s limit |
| VA | Funding fee of 0.5% to 3.3% unless exempt | Yes | Allowed up to VA’s limits |
| USDA | Upfront guarantee fee (capped at 3.5%) | Yes, if within program limits | Allowed, subject to program rules |
Because these program fees are usually added to the loan, they are not counted in this calculator’s cash to close. Use the FHA MIP calculator or VA funding fee calculator to see how much they add to your balance. Our guide to down payment assistance programs covers grants and second loans that can pay closing costs too.
Assumptions
- Closing costs other than points are a percentage of the price. Real fees are a mix of flat charges, state taxes and prepaid items.
- Discount points are a percentage of the loan amount, as lenders charge them.
- Earnest money, seller credits, lender credits and assistance are not subtracted.
- Financed program fees (FHA, VA, USDA) are not included in cash to close.
- Prepaid items such as the first year of insurance and escrow deposits are assumed to sit inside your percentage range.
Common mistakes
- Budgeting only for the down payment. Closing costs are separate and due on the same day.
- Comparing lenders by rate alone. A lower rate with more points can cost more upfront. Compare the full Loan Estimates.
- Forgetting prepaid items. Taxes, insurance and escrow deposits can be a large share of the total.
- Assuming a seller credit is free. It may raise the price or be limited by your loan program.
- Wiring money without checking. Confirm wiring instructions by phone with a known number. Closing scams target buyers by email.
Limits of this estimate
This is a planning range, not a quote. Your Loan Estimate lists the actual fees, and your Closing Disclosure, which arrives at least three business days before closing, shows the final numbers. Get Loan Estimates from at least three lenders and compare the same sections side by side. If you are still choosing a loan, our types of mortgage loans guide explains how program fees differ. A HUD-approved housing counselor can walk through your Loan Estimate with you.
For context, the national average 30-year fixed rate was 7.40% as of October 15, 2026 (Freddie Mac). FHA, VA and USDA rates are set by each lender and often differ.Source: Freddie Mac Primary Mortgage Market Survey, via FRED
Frequently asked questions
How much are closing costs on a house?
They vary by state, lender, loan type and price, so there is no single answer. This calculator uses a planning range you can adjust. Your lender's Loan Estimate, which must arrive within three business days of your application, shows the real figures.
What is included in closing costs?
Common items include the appraisal, lender fees, title insurance, government recording fees and transfer taxes, plus prepaid items such as property taxes, homeowners insurance and interest until your first payment is due.
What is the difference between closing costs and cash to close?
Closing costs are the fees and prepaid items for the loan and purchase. Cash to close is everything you bring to the table: closing costs plus your down payment, minus your earnest money deposit and any credits.
Are discount points worth it?
Points lower your rate in exchange for cash at closing. They pay off only if you keep the loan long enough for the monthly savings to cover the cost. Our points break-even calculator shows how many months that takes.
Can the seller pay my closing costs?
Often, yes, up to limits set by each loan program. Seller credits are negotiated in your purchase contract. The CFPB notes they often come with a higher price, so you may still pay them indirectly.
Can I roll closing costs into my loan?
On a purchase you usually cannot add regular closing costs to the loan. Some program fees, such as the FHA upfront premium, the VA funding fee and the USDA upfront fee, can be financed. Lender credits are another option, in exchange for a higher rate.
How can I lower my closing costs?
Compare Loan Estimates from several lenders, shop for services the Loan Estimate says you can shop for, such as title services in many cases, ask about down payment and closing cost assistance, and negotiate seller credits.
When will I know my exact closing costs?
Your lender must give you a Closing Disclosure at least three business days before closing. Compare it line by line with your Loan Estimate and ask about any changes.
Sources
Read the guides
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