Estimated cash to close
$89,685
$80,000 down payment + $9,685 closing costs
Total closing costs
$9,685
% of purchase price
2.42%
% of loan amount
3.03%
- Lender charges (A)
- $1,600.00
- Appraisal, title & other services (B, C)
- $3,150.00
- Government fees (E)
- $150.00
- Prepaids (F)
- $3,383.13
- Initial escrow (G)
- $902.23
- Inspection & other (H)
- $500.00
- Total closing costs (J)
- $9,685.36
This estimate is 2.42% of the price. Freddie Mac says closing costs generally range between 2% and 5% of the purchase price.
Cash to close
- Down payment (20% of the price)
- $80,000.00
- Total closing costs
- $9,685.36
- Estimated cash to close
- $89,685.36
Closing costs by Loan Estimate section
| Item | Amount |
|---|---|
| A. Origination charges | $1,600.00 |
| Origination charges and points (0.5% of the loan) | $1,600.00 |
| B. Services you cannot shop for | $650.00 |
| Appraisal | $600.00 |
| Credit report | $50.00 |
| C. Services you can shop for | $2,500.00 |
| Title insurance and settlement or escrow fees | $2,500.00 |
| Survey | $0.00 |
| D. Total loan costs (A + B + C) | $4,750.00 |
| E. Taxes and other government fees | $150.00 |
| Recording fees | $150.00 |
| Transfer taxes | $0.00 |
| F. Prepaids | $3,383.13 |
| Homeowner's insurance premium (12 months) | $2,397.00 |
| Prepaid interest ($61.63 a day for 16 days at 7.03%) | $986.13 |
| Property taxes (0 months) | $0.00 |
| G. Initial escrow payment at closing | $902.23 |
| Homeowner's insurance ($199.75 a month for 2 months) | $399.50 |
| Property taxes ($251.37 a month for 2 months) | $502.73 |
| H. Other | $500.00 |
| Home inspection | $500.00 |
| Other fees | $0.00 |
| I. Total other costs (E + F + G + H) | $4,935.36 |
| J. Total closing costs (D + I) | $9,685.36 |
What this estimate assumes
- Loan amount
- $320,000
- Closing date
- June 15
- Property tax rate
- 0.754% a year (median of the 50 states and DC)
- Homeowner's insurance
- $2,397 a year (median of the 50 states and DC)
- Monthly escrow for taxes and insurance
- $451.12 a month
Closing costs and cash to close at other prices and down payments
| Home price | Down payment | Closing costs | Cash to close |
|---|---|---|---|
| $300,000 | 5% | $9,277 | $24,277 |
| $300,000 | 10% | $9,156 | $39,156 |
| $300,000 | 20% | $8,913 | $68,913 |
| $400,000 | 5% | $10,170 | $30,170 |
| $400,000 | 10% | $10,009 | $50,009 |
| $400,000 | 20% | $9,685 | $89,685 |
| $500,000 | 5% | $11,064 | $36,064 |
| $500,000 | 10% | $10,862 | $60,862 |
| $500,000 | 20% | $10,458 | $110,458 |
Fees you entered in dollars stay the same in this table; origination charges, prepaid interest and property tax scale with the price and loan. Only closing costs are shown; the monthly payment is on the mortgage calculator.
An estimate, not a Loan Estimate. Fee amounts other than prepaid interest, taxes and insurance are example values you should replace. Program fees (FHA, VA, USDA), mortgage insurance premiums, seller closing costs and refinance costs are not included.