Closing Costs
Fees paid at the end of a real estate transaction, on top of the down payment.
Closing costs cover the lender, title, and legal work needed to finalize a home purchase or refinance — appraisal, title insurance, origination fees, recording fees, and more. They're typically 2–5% of the loan amount and are separate from the down payment, meaning buyers need cash for both.
Worked Example
On a $320,000 loan, closing costs of 3% would run about $9,600 — due at signing, in addition to whatever the down payment was.
Ad space
See it in action
Mortgage Payment Calculator
Calculate monthly mortgage payments including taxes, insurance, and PMI
Open CalculatorDown Payment Calculator
Compare down payment sizes side by side to see the effect on your loan, PMI, and total interest
Open CalculatorRefinance Calculator
See if refinancing your mortgage is worth it, including the break-even point on closing costs
Open Calculator