Closing Costs Calculator
Closing costs are calculated as the sum of fixed fees and percentage-based fees tied to the property value or loan amount.
C = ΣFi + Σ(V × rj)
Where C is the total closing costs. Fi represents individual fixed fees like appraisals or recording fees. V is the property value or loan amount. rj represents specific rate-based costs like origination fees, transfer taxes, or the mansion tax.
Property Details
Property Type
Down payment: $370,000
Closing Costs
C = ΣFᵢ + Σ(V × rⱼ)
Government Taxes
Mansion Tax
Mortgage Recording Tax
Transfer Tax (NYC)
Transfer Tax (NYS)
Lender Fees
Origination Fee
Appraisal
Credit Report
Title & Legal
Title Search
Title Insurance
Attorney
Prepaits & Escrow
Tax Escrow (3 months)
Insurance Prepay (1 year)
Prepaid Interest (15 days)
Other
Move-in Fee
Total Closing Costs$112,535
As % of Purchase6.08%
Down Payment$370,000
Cash Needed to Close$482,535