Racira Calculator

Closing Cost Calculator

Property Details

Amount: $70,000

Estimated Closing Costs

$8,300
~2.4% of home price

Total Cash to Close

$78,300
Includes down payment & closing costs

Cost Breakdown

Lender Fees$3,300
Origination Fee$2,800
Appraisal Fee$500
Third-Party Fees$1,900
Title Insurance$1,750
Recording Fees$150
Prepaid Costs (Escrow)$3,100
Property Taxes$2,100
Homeowners Insurance$1,000

Understanding Closing Costs

Closing costs are processing fees that you pay to your lender and third parties when you close on your loan. They typically range from 2% to 5% of the total loan amount.

Common Fees Explained

Lender Fees

Fees charged by the mortgage company to process, underwrite, and close your loan. This includes origination fees, application fees, and underwriting fees.

Third-Party Fees

Fees paid to other companies involved in the transaction, such as appraisers, title companies, and local government recording offices.

Prepaid Costs

Upfront payments for ongoing homeownership expenses, typically placed into an escrow account. This usually includes property taxes and homeowners insurance premiums.

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