Closing Costs Calculator

U.S. average closing costs for a buyer run 2%–5% of the home price. On a $400,000 home, that's $8,000–$20,000. The biggest line items are lender origination (0.5%–1% of loan), title insurance (~0.5%–0.7% of price), appraisal ($500–$700), prepaid taxes and insurance for escrow, and recording/transfer taxes. State and lender choice can swing the total by thousands.

Conventions vary by region. On the East Coast and Midwest, buyers typically pay most lender-side and title costs while sellers pay transfer taxes and broker commissions. On the West Coast, the seller often pays the owner's title policy and some recording fees. Everything is negotiable - concessions of 1%–6% from sellers are common in slow markets.

A seller concession is when the seller pays some or all of the buyer's closing costs as part of the negotiated deal. Conventional loans cap concessions at 3% with <10% down (9% with >25% down); FHA caps at 6%; VA caps at 4% for non-recurring costs. Concessions effectively raise the contract price in exchange for less cash at closing.

Under TILA-RESPA Integrated Disclosure (TRID) rules, lenders must provide a Loan Estimate within 3 business days of application and a Closing Disclosure at least 3 business days before closing. Compare line-by-line - if anything jumped more than 10% on services where the lender controls the choice, you may have a tolerance violation worth challenging.