Closing Cost Estimator
https://www.bankofamerica.com/mortgage/closing-costs-calculator/
A Closing Cost Estimator is a financial tool that helps homebuyers and sellers estimate the total costs they’ll need to pay at the closing of a real estate transaction—on top of the property’s purchase price.
What It Calculates:
For Buyers, it typically includes:
Lender fees (loan origination, underwriting)
Appraisal and inspection fees
Title insurance
Escrow fees
Recording fees
Prepaid taxes and insurance (escrow setup)
Points or credits
For Sellers, it may include:
Agent commissions
Escrow and title fees
Transfer taxes
Outstanding liens/payoffs
Repairs or agreed credits to buyer
Inputs You Provide:
Purchase price
Down payment
Location (state/county/city)
Loan amount and type
Closing date
Whether you’re the buyer or seller
Why It's Useful:
Gives a clearer picture of total funds needed to close
Helps avoid surprises and budget accurately
Allows comparison of loan offers and closing services
Essential for buyers trying to determine if they can afford a home
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