TrueAffordClosing Costs Calculator
The cash you need beyond the down payment
Closing costs are frequently what derails a first-time buyer who budgeted only for the down payment. This shows the real range in cash — 2% to 5% of the home price — on top of what you're already setting aside.
Cash needed at closing
$48,023 typical
Range: $45,348 – $53,371
- Down payment
- $40,000
- Closing costs (low, 2%)
- $5,348
- Closing costs (typical, 3%)
- $8,023
- Closing costs (high, 5%)
- $13,371
- Total cash needed (typical)
- $48,023
This is cash on top of the down payment — lender fees, title insurance, appraisal, recording fees, and similar one-time costs. It's frequently the thing first-time buyers forget to budget for.
Frequently asked questions
What's actually included in closing costs?
Lender origination fees, title insurance and search fees, appraisal and inspection costs, recording fees, prepaid property tax and insurance, and similar one-time charges. The exact mix varies by state and lender, which is why this is shown as a range rather than a single number.
Can closing costs be rolled into the loan?
Sometimes, depending on loan type and lender — but that increases your loan balance and the interest you pay over time. This calculator treats them as cash needed at closing, which is the more conservative and more common default assumption.
Why a range instead of one number?
Because the real figure depends on your state, lender, and loan type in ways a generic calculator can't know precisely. The 2-5% range is wide enough to be honest about that uncertainty while still being useful for budgeting.
Related: Mortgage calculator · Home affordability calculator · Amortization schedule calculator