Microsoft's support for your web browser ended on January 12, 2016. To continue to use our online services, you must upgrade to a current version of Google ChromeTM, Mozilla Firefox® or Microsoft Internet Explorer®.

Mortgage Calculator: Closing Costs

What are home closing costs?

Home closing costs are the charges you pay for transferring the ownership of the property from the seller and obtaining the loan from the lender. As the buyer, you can pay the costs in cash or finance them in the loan, unless you negotiated for the seller to pay closing costs. Typically, home closing costs are between 2% and 5% of the home purchase price.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended as a solicitation for any credit product or to provide credit advice. Calculators and input options are intended solely for general information and educational purposes. Calculations are hypothetical, and based on information and assumptions provided by you. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. You should not take any action on the basis of the information provided through this calculator. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Can I get a no-closing-cost mortgage?

If premium pricing options are available, it is possible to obtain a No-Closing-Cost Loan. Premium pricing, or lender credit, is a feature offered with some loans where the closing fees are automatically financed; however, the interest rate may be higher.

BBVA Compass will detail your specific closing cost in your Closing Disclosure, which is typically provided to you within three days of your closing.

How to use this calculator

Loan info:

Enter your mortgage loan details, including purchase price, down payment, term, and interest rate. This will help us estimate your closing costs, which are generally between 2 percent and 5 percent of the purchase price.

Taxes & insurance:

To find property taxes, check MLS listings online, or contact your county’s assessor/recorder’s office or a local real estate agent. Calculate homeowner’s insurance here, or contact an insurance agent for a quote.

Origination fees:

The origination charge is generally between 0.5% and 1% of your mortgage loan, but check with your mortgage specialist to confirm.

Other settlement services:

These are fees paid for services associated with the purchase of a home that do not represent compensation to the lender and/or broker for originating the loan. A mortgage specialist will help you identify the average cost for these services.