REI Utility
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Buyers

Closing Costs Calculator

Closing costs are the fees you pay (besides the down payment) to close on a US home. They typically run 2-5% of the price for buyers and 6-10% for sellers, but vary widely by state.

How to use this calculator

  1. Enter the home price and select your state.
  2. Pick whether you're the buyer or the seller.
  3. Choose your loan type (Conventional, FHA, or VA) if you're buying.
  4. We'll estimate total fees and give you an itemized breakdown.

What your results mean

Buyers pay for lender fees, title insurance, appraisal, prepaid taxes, and (for FHA/VA) an upfront funding fee. Sellers pay agent commission (~6%), transfer taxes, and title/escrow fees. Sellers typically pay more in raw dollars, but it comes out of the sale proceeds.

How to lower closing costs

  • Ask your lender for a Loan Estimate from 3+ lenders and negotiate origination fees.
  • Shop title insurance separately — you don't have to use the lender's recommendation.
  • Ask the seller for a closing cost credit, especially in a buyer's market.
  • In some states (NY, DE), transfer taxes are the biggest single line item — plan for them.
  • VA loans have a funding fee but no PMI and often no down payment.

Frequently asked questions