Closing Costs Calculator

What are closing costs?

Closing costs (also called settlement costs or completion costs) are fees and taxes paid at the end of a property purchase transaction, in addition to the purchase price itself. They typically include government transfer taxes or stamp duty, legal or conveyancing fees, lender origination fees, title insurance (in the US and Canada), survey or appraisal fees, and prepaid items like property tax escrow and homeowner's insurance. In the US, buyers typically pay 2–5% of the purchase price in closing costs. In the UK, stamp duty is often the largest single item. Budget carefully — closing costs must usually be paid upfront and cannot be added to your mortgage.

Who pays closing costs — buyer or seller?

In most countries, buyers pay the majority of closing costs including transfer taxes, legal fees, and lender fees. However, sellers typically pay real estate agent or estate agent commissions, which are often the largest single transaction cost. In the US, some costs can be negotiated, and sellers may agree to a "seller concession" to cover part of the buyer's closing costs — particularly in a buyer's market or when the seller is motivated. In the UK, each party pays their own solicitor's fees, while stamp duty falls entirely on the buyer.

Can closing costs be rolled into my mortgage?

In some cases yes — certain US loan programs such as FHA loans and VA loans allow specific closing costs to be financed into the loan amount, increasing the loan balance. However, rolling costs into the mortgage means paying interest on them for the entire life of the loan, which significantly increases the true cost. A $10,000 closing cost rolled into a 30-year mortgage at 7% interest costs you over $24,000 in total. The UK, India, Australia, and Canada generally require closing costs to be paid in full at settlement and they cannot be added to the mortgage balance.

Are closing cost estimates accurate?

This calculator provides estimates based on typical rates and fee structures for each country, intended to give a realistic budget range. Actual closing costs vary by lender (different origination fee policies), location (local transfer tax rates differ by state, county, or municipality), property type (new build vs existing), and negotiation. In the US, lenders are required by law to provide a Loan Estimate within three business days of your application — this gives itemised closing cost figures specific to your loan. In the UK and Australia, request a formal conveyancing quote from at least two solicitors before finalising your budget.