Closing Costs Estimate Interactive Tour
Understand the key costs of buying a home, then personalize the numbers to explore what your purchase could look like.
Know What You'll Need—and When
Before we look at the numbers, here are three key parts of your upfront home purchase costs and when they typically come into the process.
Earnest Money Deposit (EMD)
What is it?
Money you provide after your offer is accepted to show your commitment to the purchase. It is often around 1–2% of the purchase price.
When do I pay it?
Often within 3–5 days, although the actual deadline is determined by your contract.
Where does it go?
It may be held by a title company or real estate broker, depending on the transaction.
Down Payment
What is it?
The portion of the home's purchase price you pay yourself instead of financing through your mortgage.
When do I pay it?
The remaining amount is generally provided as part of the closing process.
What happens to my EMD?
When applicable, your EMD may be credited toward the funds you need to bring to closing.
Closing Costs
What are they?
Expenses involved in completing your purchase. These may include lender fees, title services, taxes, recording charges, and other adjustments.
When do I pay them?
They are generally paid as part of the closing process.
Who handles them?
Your settlement or title professional helps collect and distribute the appropriate funds.
Your Personalized Estimate
Start with a purchase price, then adjust any number to explore different scenarios.
Earnest Money Deposit
Starting estimate: 2%. Adjust it to match your scenario.
Down Payment
Remaining after EMD: $0
Estimated Closing Costs
Starting estimate: 3%. Actual costs may vary.
Estimated Cash Needed
Here's the full picture of your estimated upfront cash, with your earnest money accounted for so it isn't counted twice.
Proposed Offer Terms
A simple summary of the purchase scenario you've created above.
Estimated Monthly Payment
Explore what your monthly housing payment could look like based on the loan amount above.