Mortgage

Closing Costs Calculator
The following information is designed to help borrowers understand the types of closing costs involved in obtaining a first mortgage. The costs will vary depending on the city, county, type of mortgage and loan amount.

Items Payable in Connection With Your Loan
Loan Origination Fee-Typically 1% of the loan amount ( $100,000 loan would be $1,000).
Appraisal Fee $275.00
Credit Report $65.00
Tax Service Fee $70.00
Underwriting Fee $300.00
Flood Certificate $25.00

Pre Paid Items
Interest-will be between 1-30 days, depending on when in the month you close
Hazard Insurance - 1 year premium

Reserves
Hazard Insurance - 2 Months
Taxes - 2 Months
Mortgage Insurance - 2 Months if applicable

Title Charges
Closing Fee $125.00
Title Policy $75.00-$750+ Depending on loan amount, purchase or refinance
Endorsements $75.00
Courier Fee $20.00

Recording & Transfer Fees
Recording Fees $45.00
Documentary stamps (varies by state)
Intangible tax and stamps on mortgage (varies by state)

Additional Charges
Survey $100.00

 
 
Purchase Price $

 
Percent Down Payment               %      
Down Payment $  
Loan Amount $

 
Percent  Closing Costs                %     
Closing Costs* $  
Appraisal Fee* $  
Credit Report Fee* $  
Inspection Fee* $  
Moving-In Costs $  
Total Closing Costs* $  
 
 

* Fees are estimates - check with your lender for actual fees.
  This calculator will help you to determine the amount of cash needed for the home purchase

1 - Purchase Price:
Enter the Purchase Price from the Down Payment Calculator.

2 - Down Payment:
Enter the Down Payment percentage you are making. The Loan Amount and other numbers automatically recalculate if you change the purchase price or down payment percentage.

3 - Appraisal, Credit Report and Inspection Fees:
The Appraisal Fee, Credit Report Fee, and Inspection Fee default to $275.00, $65.00, and $175.00 (this is an estimated amount). You may change any or all of these entries.

4 - Closing Costs:
The Closing Costs are automatically calculated on 4% of the Purchase Price. This is a guessestimate only but includes documentary taxes, title insurance, intangible taxes, escrows for property taxes and insurance. Remember to increase this number if you are paying points on your loan.

5 - Moving-In Costs:
These include the moving van, deposits on electric and other services, purchase you will be making such as furniture, dishwasher, washing machine, dryer, etc. Enter the amount in Moving-In Costs.

6 - Calculate:
The values are updated as you tab from entry to entry.