Closing Costs Calculator
Closing costs on a $300,000 house usually run about $6,000 to $15,000, or roughly 2% to 5% of the price. Closing costs are the one-time fees you pay to finalize a home purchase, separate from your down payment. This calculator itemizes the common fees, lender charges, title and escrow, inspection, transfer taxes, and prepaid items, so you can estimate your total before you reach the closing table.
Quick answer
Closing costs are buyer fees due at closing, on top of the down payment.
Purchase
Fees
What this tells you
- •Closing costs are buyer fees due at closing, on top of the down payment.
- •For most buyers they total 2% to 5% of the home price.
- •Cash to close is your down payment plus your closing costs combined.
How to Use
- 1Enter the home price and your planned down payment percent.
- 2Adjust the loan origination rate if your lender quoted a different figure.
- 3Update the flat fees for appraisal, title and escrow, and inspection to match your estimates.
- 4Set the transfer tax rate for your state and add any prepaid escrow.
- 5Calculate to see your total closing costs, the percent of the price, and total cash to close.
How It Works
Formula
Total Closing Costs = Loan Origination + Appraisal + Title and Escrow + Inspection + Transfer Tax + Prepaids + Other
Loan Origination = Loan Amount x Origination Rate
Transfer Tax = Home Price x Transfer Tax Rate
Loan Amount = Home Price x (1 - Down Payment %)
Cash to Close = Down Payment + Total Closing CostsTwo of the fees scale with the deal. The loan origination charge is a percent of the amount you borrow, so a bigger down payment lowers it. The transfer tax is a percent of the home price set by your state or county. The rest are flat third-party and prepaid items. Adding them together gives total closing costs. Cash to close adds your down payment back, because that is the full amount you bring to the closing table.
Calculation note: values are processed in the order shown above, using the current input units.
Worked Examples
$300,000 house, 20% down
$300,000 house, 10% down
Typical Buyer Closing Costs by Category
Common buyer closing cost items and rough ranges for a mid-priced home. Actual figures vary widely by state, lender, and loan type.
| Cost | Typical range | What it covers |
|---|---|---|
| Loan origination | 0.5% to 1% of loan | Lender fee to process and underwrite the loan |
| Appraisal | $300 to $700 | Independent estimate of the home value for the lender |
| Title and escrow | $1,000 to $3,000 | Title search, lender title insurance, and escrow service |
| Home inspection | $300 to $600 | Optional but recommended condition check before closing |
| Transfer and recording tax | 0% to 2% of price | State or county tax to record the deed and transfer |
| Prepaids and escrow | $2,000 to $5,000 | Prepaid interest, homeowners insurance, and tax reserves |
These are buyer-side costs. Sellers pay their own costs, often including the real estate agent commission, which is not part of this estimate.
How Much Are Closing Costs on a $300,000 House?
On a $300,000 home, plan for roughly $6,000 to $15,000 in closing costs, which is the standard 2% to 5% range. With a 20% down payment and ordinary fees, this calculator lands near $8,700, or about 2.9% of the price. The biggest swing factors are your state transfer tax and how much you put down, since the loan origination fee is charged on the amount you borrow.
Lower down payments usually mean slightly higher closing costs, because a larger loan raises the origination fee and may add mortgage insurance setup. High-tax states and cities can push transfer taxes well above the default here, while several states charge none at all. Always compare the official Loan Estimate your lender provides within three days of applying, since that document lists every fee.
Closing costs are separate from your down payment, but you pay both at closing. The cash to close figure in your result combines them so you can see the full amount you need on hand. If money is tight, ask whether the seller will cover part of your costs through a seller credit, which is common in a buyer-friendly market.
Common mistakes
- Confusing closing costs with the down payment, when you actually owe both at closing
- Forgetting state or county transfer taxes, which vary enormously by location
- Leaving out prepaid items like insurance and property tax reserves held in escrow
- Assuming a quoted rate has no fees, when origination and points may be bundled in