The payment is only half the question.
Closing costs are the other half, and they arrive all at once. This works out what the table asks for before you sit down.
Start with the property and the loan.
Set what you are buying or refinancing and what you would borrow against it. Every line moves as you type, with no button to press.
$111,581
These are representative fees by state, not a fee sheet. The figures that bind anyone are on the Loan Estimate you receive after applying.
An estimate built from what you entered — not a quote or an approval.
Talk through these numbersA starting assumption, not an offer. Your rate is priced to your file.
Interest is paid from the day you close through the end of that month, so a later date in the month means a smaller line here.
The loan behind the estimate
- Loan amount
- $400,000
- Down payment
- $100,000
- Loan to value
- 80.00%
- Monthly loan payment
- $2,528.27
- With tax and insurance
- $2,907.44
The numbers below are an example, so the estimate has something to show. Replace them with the property you are looking at.
Where every dollar of it goes.
Four groups, itemised the way a settlement statement itemises them — what the lender charges, what others charge, what the county takes, and what is prepaid.
| Item | Amount |
|---|---|
| Origination fee | $0.00 |
| Discount points | $0.00 |
| Underwriting fee | $999.00 |
| Processing fee | $495.00 |
| Lender attorney fee | $500.00 |
| Group subtotal | $1,994.00 |
| Item | Amount |
|---|---|
| Appraisal | $750.00 |
| Your attorney | $1,000.00 |
| Credit report | $75.00 |
| Flood certification | $20.00 |
| Notary | $150.00 |
| Settlement fee | $500.00 |
| Survey | $500.00 |
| Title insurance | $2,000.00 |
| Group subtotal | $4,995.00 |
| Item | Amount |
|---|---|
| Transfer tax | $500.00 |
| Recording fee | $22.00 |
| Mortgage tax | $600.00 |
| Other government fees | $11.00 |
| Group subtotal | $1,133.00 |
| Item | Amount |
|---|---|
| Prepaid interest 2 days of interest | $142.47 |
| Homeowners insurance escrow 4 months collected | $600.00 |
| First year of homeowners insurance | $1,800.00 |
| Property tax escrow 4 months collected | $916.67 |
| Group subtotal | $3,459.14 |
What moves these numbers, and what does not.
A few of these lines are set by where the property is, a few by the loan, and one by the day you sign.
Where the property is changes the bill
Transfer tax, recording and the mortgage tax are set by the state and the county, not by the lender. Two identical loans in two states close at different numbers, and the state control here is what moves them.
Escrow is your money, held early
The months of tax and insurance collected at closing are not a fee. They fund the account the lender pays those bills out of, and you would have owed them anyway — they are just due sooner than you might expect.
The day you sign moves the interest
Interest is prepaid from your closing day through the end of that month. Signing near the start of a month prepays nearly all of it; signing near the end prepays almost none, which is why closings cluster where they do.
The binding numbers come on a form
A lender has to give you a Loan Estimate within three business days of your application, and what is on it is what it is held to. This page is a way to know roughly what to expect before that arrives.
An estimate is not a Loan Estimate.
The document with your real figures arrives within three days of an application. A loan officer can tell you what will be on yours.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.