How to use it
- Enter purchase price and down‑payment %.
- Fill in annual tax, HOA, insurance, points and other fees.
- Click Calculate to see a detailed cost breakdown.
What you get: The calculator adds up every cash outlay you’ll face at settlement – the down‑payment, prepaid property tax, insurance and HOA for the first year, any mortgage points you choose, and all other closing fees.
Why it matters: Knowing the exact amount helps you budget, compare loan offers, and avoid surprise costs that can stall a purchase.
How to read the results:
- Total Closing Cost – sum of all items, the cash you need on closing day.
- Down Payment Amount – portion of the purchase price you’re paying upfront.
- Prepaid Items – annual tax, insurance and HOA paid in advance.
- Mortgage Points – cost of buying discount points (1 % of the loan per point).
- Other Closing Fees – flat charges such as appraisal, title and recording.
Pro tips
- Add a 5% buffer for unexpected fees.
- Round numbers to the nearest hundred for quick budgeting.
- Enter points as whole numbers; each point adds 1% of the loan.
- Double‑check that HOA and insurance are annual amounts, not monthly.
Real-life examples
- First‑time buyer planning cash needed for closing day.
- Real estate investor comparing costs across multiple properties.
- Refinance candidate estimating out‑of‑pocket expenses.
Case study
Sarah saw a $300,000 home, entered a 20% down payment, $3,600 tax, $1,200 HOA, $1,200 insurance, 1 point and $2,000 other fees. The tool showed a $70,400 total, letting her secure the needed funds before the deadline.