Mortgage Calculators
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How to use this calculator
Enter your purchase price, down payment, loan type, and an estimated interest rate. Hit "Estimate Closing Costs" and you'll see a line-by-line breakdown of what you can expect to pay at closing, plus your total cash-to-close figure, which combines your down payment with those costs.
Adjust your down payment amount or percentage to see how your closing costs and cash-to-close change together.
What's included in closing costs
Closing costs are the fees and prepaid expenses required to finalize your mortgage. This estimate includes:
- •Loan origination fee - The lender's charge to process and underwrite your loan
- •Title insurance - Protects against ownership disputes; lender's coverage is required, owner's is recommended
- •Escrow / settlement fee - Paid to the title company managing the closing
- •Prepaid interest - Interest that accrues from your closing date to the end of the month
- •Property tax escrow - Typically 2–3 months of taxes held in reserve by the lender
- •Homeowners insurance - Your first year's premium plus 2 to 3 months of escrow reserves
- •FHA / VA fees - If applicable: FHA upfront MIP (1.75%) or VA funding fee (varies by down payment)
Recording fees and other government charges are also included.
Why closing costs vary
This estimate uses national averages and midpoint assumptions. Your actual costs will depend on your location, lender, loan program, and closing date. Title insurance rates, escrow fees, and property taxes can vary significantly by state and county.
Your lender is required by law to provide an official Loan Estimate within 3 business days of receiving your application. That document will show your actual costs with legal accuracy. Use this tool to plan. Use your Loan Estimate to decide.
Get an accurate quote for your situation
Online estimates are a starting point. A loan officer can pull your actual rate, confirm your loan program, and give you a closing cost figure based on your specific property, county, and timeline.
There's no obligation, and knowing your real numbers early means you budget from facts instead of guesses.
Disclaimer ~ How to Read the Results
The figures generated by this calculator are for informational and planning purposes only. They do not represent a loan offer, pre-approval, or commitment to lend, and should not be relied upon as a guarantee of any specific loan terms.
Your actual interest rate, monthly payment, closing costs, and total loan costs will depend on a number of individual factors, including your credit history, income, assets, debt obligations, property type and value, loan program, and current market conditions. Mortgage insurance, property taxes, and homeowners insurance, which vary by location and loan type, may also affect your monthly payment and are not reflected in all calculator outputs.
Thompson Kane & Company is a licensed direct mortgage banker. All loans are subject to credit approval and standard underwriting guidelines. Rates and program availability are subject to change without notice.
For a personalized, accurate mortgage quote based on your specific situation, connect with a Thompson Kane loan officer.
Disclaimer ~ How to Read the Results
The figures generated by this calculator are for informational and planning purposes only. They do not represent a loan offer, pre-approval, or commitment to lend, and should not be relied upon as a guarantee of any specific loan terms.
Your actual interest rate, monthly payment, closing costs, and total loan costs will depend on a number of individual factors, including your credit history, income, assets, debt obligations, property type and value, loan program, and current market conditions. Mortgage insurance, property taxes, and homeowners insurance, which vary by location and loan type, may also affect your monthly payment and are not reflected in all calculator outputs.
Thompson Kane & Company is a licensed direct mortgage banker. All loans are subject to credit approval and standard underwriting guidelines. Rates and program availability are subject to change without notice.
For a personalized, accurate mortgage quote based on your specific situation, connect with a Thompson Kane loan officer.
Disclaimer ~ How to Read the Results
The figures generated by this calculator are for informational and planning purposes only. They do not represent a loan offer, pre-approval, or commitment to lend, and should not be relied upon as a guarantee of any specific loan terms.
Your actual interest rate, monthly payment, closing costs, and total loan costs will depend on a number of individual factors, including your credit history, income, assets, debt obligations, property type and value, loan program, and current market conditions. Mortgage insurance, property taxes, and homeowners insurance, which vary by location and loan type, may also affect your monthly payment and are not reflected in all calculator outputs.
Thompson Kane & Company is a licensed direct mortgage banker. All loans are subject to credit approval and standard underwriting guidelines. Rates and program availability are subject to change without notice.
For a personalized, accurate mortgage quote based on your specific situation, connect with a Thompson Kane loan officer.
How accurate is this closing cost estimate?
Close enough to plan around, but closing costs are one of the harder things to estimate precisely because they depend on your specific location, lender, loan type, and the details of the transaction. The numbers here give you a realistic range to work with. For a formal, itemized breakdown tied to your actual loan, you'll receive a Loan Estimate from your lender within 3 business days of submitting an application. That's the number to budget from.
What's the difference between closing costs and a down payment?
They're both due at closing, which is why they're often confused, but they're separate expenses serving different purposes. Your down payment is equity: it's the portion of the home's purchase price you're paying directly, which reduces the amount you need to borrow. Closing costs are the fees and charges associated with processing the loan and transferring ownership of the property. You need to have both ready, and this calculator addresses closing costs only.
When exactly do I pay closing costs?
At the closing table, the meeting where ownership of the property officially transfers to you and your loan is finalized. You'll typically receive a Closing Disclosure at least 3 business days before that meeting, which itemizes every charge so there are no surprises. It's worth comparing that document carefully to your original Loan Estimate to catch any unexpected changes.
Can closing costs be rolled into my loan?
Sometimes. On certain loan types, it's possible to finance some or all of your closing costs by adding them to the loan balance. The tradeoff is straightforward: you preserve cash now but pay interest on those costs for the life of the loan. Another option is a lender credit, where you accept a slightly higher interest rate in exchange for the lender covering some closing costs upfront. Whether either approach makes sense depends on how long you plan to stay in the home.
Can I negotiate closing costs?
Some fees, like lender origination fees, are negotiable directly. Others, like title insurance or recording fees, are set by third parties, but you may have the right to shop for them. Seller concessions are another lever: in some markets and transactions, sellers agree to cover a portion of the buyer's closing costs as part of the deal. It's worth asking about all of these before you assume the estimate is fixed.
What are seller concessions and how do they work?
Seller concessions are closing costs the seller agrees to pay on your behalf, typically negotiated as part of the purchase offer. They don't reduce the purchase price. Instead, the seller contributes a set dollar amount or percentage toward your closing costs at the table. Concessions are more common in slower markets or when a seller is motivated. Loan programs set limits on how much a seller can contribute, so your loan officer can tell you what's allowable for your situation.
Do I pay closing costs when I refinance too?
Yes. Refinancing carries its own set of closing costs, typically ranging from 2% to 5% of the loan amount, similar to a purchase. That's one reason the break-even calculation matters so much in a refinance decision. If you're considering refinancing, our Refinance Calculator can help you factor those costs into whether and when a refinance actually pays off.
Frequently asked questions
Frequently asked questions
How accurate is this closing cost estimate?
Close enough to plan around, but closing costs are one of the harder things to estimate precisely because they depend on your specific location, lender, loan type, and the details of the transaction. The numbers here give you a realistic range to work with. For a formal, itemized breakdown tied to your actual loan, you'll receive a Loan Estimate from your lender within 3 business days of submitting an application. That's the number to budget from
What's the difference between closing costs and a down payment?
They're both due at closing, which is why they're often confused, but they're separate expenses serving different purposes. Your down payment is equity: it's the portion of the home's purchase price you're paying directly, which reduces the amount you need to borrow. Closing costs are the fees and charges associated with processing the loan and transferring ownership of the property. You need to have both ready, and this calculator addresses closing costs only
When exactly do I pay closing costs?
At the closing table, the meeting where ownership of the property officially transfers to you and your loan is finalized. You'll typically receive a Closing Disclosure at least 3 business days before that meeting, which itemizes every charge so there are no surprises. It's worth comparing that document carefully to your original Loan Estimate to catch any unexpected changes.
Can closing costs be rolled into my loan?
Sometimes. On certain loan types, it's possible to finance some or all of your closing costs by adding them to the loan balance. The tradeoff is straightforward: you preserve cash now but pay interest on those costs for the life of the loan. Another option is a lender credit, where you accept a slightly higher interest rate in exchange for the lender covering some closing costs upfront. Whether either approach makes sense depends on how long you plan to stay in the home.
Can I negotiate closing costs?
Some fees, like lender origination fees, are negotiable directly. Others, like title insurance or recording fees, are set by third parties, but you may have the right to shop for them. Seller concessions are another lever: in some markets and transactions, sellers agree to cover a portion of the buyer's closing costs as part of the deal. It's worth asking about all of these before you assume the estimate is fixed.
What are seller concessions and how do they work?
Seller concessions are closing costs the seller agrees to pay on your behalf, typically negotiated as part of the purchase offer. They don't reduce the purchase price. Instead, the seller contributes a set dollar amount or percentage toward your closing costs at the table. Concessions are more common in slower markets or when a seller is motivated. Loan programs set limits on how much a seller can contribute, so your loan officer can tell you what's allowable for your situation.
Do I pay closing costs when I refinance too?
Yes. Refinancing carries its own set of closing costs, typically ranging from 2% to 5% of the loan amount, similar to a purchase. That's one reason the break-even calculation matters so much in a refinance decision. If you're considering refinancing, our Refinance Calculator can help you factor those costs into whether and when a refinance actually pays off.
Ready to start your journey to home ownership?
©2026 Thompson Kane & Co., Inc. | NMLS# 898428
8040 Excelsior Dr, Suite 100, Madison, WI 53717
Ready to start your journey to home ownership?
©2026 Thompson Kane & Co., Inc. | NMLS# 898428
8040 Excelsior Dr, Suite 100, Madison, WI 53717
Ready to start your journey to home ownership?
©2026 Thompson Kane & Co., Inc
NMLS# 898428
8040 Excelsior Dr, Suite 100
Madison, WI 53717
Ready to start your journey to home ownership?
©2026 Thompson Kane & Co., Inc. • NMLS# 898428
8040 EXCELSIOR DR, Suite 100, Madison, WI 53717