Closing Costs Calculator

Closing Costs Calculator

Original Loan ($):
Mortgage Rate (%):
Origination fee (%):
Lender Fees ($):
Credit Report ($):
Appraisal ($):
Title Insurance ($):
Reconveyance Fee ($):
Recording Fee ($):
Wire and Courier Fees ($):
Endorsement Fee ($):
Title Closing Fee ($):
Title Document Preparation Fee ($):
Other Fees ($):
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Closing Costs Definition

Designing and formatting your own spreadsheet to determine the affordable amount of your future mortgage loan can be a difficult and time-consuming process. After all, one tiny error in any of the formulas could end up costing you thousands of dollars in the future. Instead, you can use our free online Closing Costs Calculator that will do virtually all of the work for you, providing you with not only easily understandable results, but also the peace of mind that all the calculations and dollar amounts are in fact correct.

While the internet may be filled with websites featuring online mortgage loan calculators, our Closing Costs Calculator stands out from the crowd by allowing you to include in your calculations multiple additional fees and expenses that accompany mortgage transactions. Oftentimes, these fees can add a substantial amount to the amount of the original mortgage loan and it is always best to account for them as early as possible. In addition, our closing cost calculator will enable you to calculate your monthly payment amount based on your annual percentage rate and the chosen term of the loan.

Our Closing Costs Calculator comes equipped with 15 different entry fields, with the majority representing inputs for various fees and expenses associated with closing a mortgage transaction.

The first three entry fields, asking for the basic components common to any and all varieties of loans, are:

  • Original Loan ($) – the total amount borrowed by you.
  • Years – the term of your mortgage loan.
  • Mortgage Rate (%) – the annual percentage interest rate of your mortgage loan

The following 12 fields represent specific fees typically required during the process of closing a mortgage transaction.

  1. Origination Fee (%) – the fee, represented as an annual percentage of the total loan, associated with the origination of the mortgage loan by a broker
  2. Lender Fees ($) – any and all fees required by the lending institution
  3. Credit Report ($) – any fees and expenses related to running your credit report
  4. Appraisal Fee ($) – a flat fee associated with the lending requirement of having the value of the real estate property assessed by a professional and independent appraiser
  5. Title Insurance ($) – the costs associated with an insurance policy protecting the buyer in the event of another party challenging the buyer’s legal ownership of the real estate property.
  6. Reconveyance Fee ($) – this is a flat fee paid at closing that covers the expense of removing the lender’s lien at a future time when the loan is paid off in full
  7. Recording Fee ($) – flat fee associated with entering the change of ownership into public land records.
  8. Wire and Courier Fee ($) – any and all expenses accrued for expediting the transaction or transfer of documents.
  9. Endorsement Fee ($) – fees for any additional endorsements added to the title’s insurance policy meant to protect the buyer from future financial liabilities related to conditions that may have been unknown at the time of purchase, such as structural damage or code violations.
  10. Title Closing Fee ($) – fee paid to the title company acting as an independent party facilitating the processing of the closing.
  11. Title Document Preparation Fee ($) – additional charges covering the cost of preparing and underwriting the documents by the broker.
  12. Other ($) – any and all expenses not listed above, such as property and other taxes, pest inspection, attorney fees, and home owners association transfer fees.

Although our calculator features all of the above entry fields, you certainly are not required to fill in every single one of them. You are only required to provide our Closing Costs Calculator with:

  • Original Loan
  • Years
  • Mortgage Rate (%)

Once the above values are entered, all you need to do is click Calculate on the bottom, and our calculator will do the rest of the work for you. In less than a second, you will be presented with the results specifying the total amount of all of the additional fees, your future monthly payment for the specific duration of your loan, and your loan’s adjusted annual percentage rate. The adjusted rate represents your new interest rate for the total outstanding balance in the event of all additional fees being added to the value of the original loan, without changing its specific term or mortgage rate.

How to Calculate Closing Costs

Let's be honest - sometimes the best closing costs calculator is the one that is easy to use and doesn't require us to even know what the closing costs formula is in the first place! But if you want to know the exact formula for calculating closing costs then please check out the "Formula" box above.

Add a Free Closing Costs Calculator Widget to Your Site!

You can get a free online closing costs calculator for your website and you don't even have to download the closing costs calculator - you can just copy and paste! The closing costs calculator exactly as you see it above is 100% free for you to use. If you want to customize the colors, size, and more to better fit your site, then pricing starts at just $29.99 for a one time purchase. Click the "Customize" button above to learn more!