The closing costs calculator is used for calculating the estimated closing costs for a purchase or refinance.
We would appreciate if you could rate your experience using our closing costs calculator and write us your honest feedback.
This will help us to improve and provide you even better tool. Thank you very much!
Buying or selling property involves a number of specialists, each of which is verifying aspects of the transaction or property. The fees you pay for these services are called Closing costs and are paid at the closing of a real estate transaction. Typically, there are buyer’s closing costs and seller’s closing costs, related to different tasks done for each side of the transaction in preparation for the closing.
Because there are many closing costs from a number of different sources, no closing cost calculator can cover all of them. We have built a real estate closing cost calculator to help you to understand approximately how much your property closing will cost you, based on answers to a number of questions.
These questions help us to give you a quote that’s tailored to your situation: the type of transaction, your role in the transaction if there is a lender involved or any endorsements used.
Closing costs depend on a variety of factors, some of which can be estimated for a typical house sale and others that can’t be (legal issues, liens and the like are outside of any closing cost calculator’s abilities).
The following list of fees are the most typical closing costs you will find (and have been included in Southern Title’s Closing Cost Calculator.
Our closing cost estimate will not include any fees that your lender would assess for their activities as well. Of course, if your title transfer does not involve a lender, then you would not need those fees to calculate your total closing costs.
Typical lender fees (not included in our closing cost calculator and issued by your lender are shown below):
Typically, home buyers will pay between about 2 to 5 percent of the purchase price of their home in closing fees.
Your lender will give you a Loan Estimate for your loan, which will include what the closing costs on your home will be, within three business days of receiving your completed loan application. But these are just an estimate, and many of the fees listed can change. If they do change, you may receive a revised Loan Estimate so there are no surprises along the way.
At least three business days before your closing, the lender should give you Closing Disclosure statement, which outlines closing fees. Compare this to your Loan Estimate and ask the lender to explain the various line items. Some fees have caps and others do not. Some fees can increase from the Loan Estimate to the Closing Disclosure, but generally, there really shouldn’t be any surprises on the closing day. If there are differences, you can still walk away at closing.