Question 1

How much are closing costs?

Accepted Answer

Closing costs typically run 2% to 5% of the home's purchase price. On a $400,000 home that's $8,000 to $20,000. Buyers with excellent credit and low-tax states trend toward the low end; high-tax states like NY, NJ, and HI often reach 4-5%.

Question 2

What fees are included in closing costs?

Accepted Answer

Common closing costs include the loan origination fee, appraisal, credit report, title search and insurance, escrow or attorney fees, recording fees, transfer taxes, prepaid property taxes, homeowners insurance, and the first year of mortgage insurance if applicable.

Question 3

Who pays closing costs — buyer or seller?

Accepted Answer

Buyers pay most closing costs. Sellers usually pay the real-estate commission (5-6%) and, in some markets, offer concessions that cover part of the buyer's closing costs. You can negotiate seller concessions of 3-6% of the price in buyer-friendly markets.

Question 4

Is my data sent anywhere?

Accepted Answer

No. Every calculation happens locally in your browser. No inputs are uploaded, saved, or shared with any server.