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Mortgage Closing Costs Calculator
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Mortgage Closing Cost Calculator

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Use our Mortgage Closing Cost Calculator to determine what your estimated closing costs should be when you buy a home or refinance.  Closing costs are typically thousands of dollars and are an important factor for borrowers to review, in addition to your interest rate, when you shop for a mortgage.  Closing costs vary by property value, loan amount, mortgage program, location and lender.
You can use this calculator to estimate your non-recurring mortgage closing costs which are one-time, up-front fees that borrowers pay to third parties to process and close your loan. Our calculator shows you total closing costs as well as an estimated breakdown of these expenses including lender and appraiser fees and other third party costs such as title company, escrow and attorney fees, if applicable.
To calculate your costs input the estimated property value into the calculator.  While some closing costs are flat fees, others are based on a percentage of your mortgage amount or vary depending on your property value.  You can run different scenarios to understand how closing costs change based on property value with the higher the home price, the higher your costs.  You can use this calculator to understand the approximate amount of closing costs you should be paying which can help you avoid excessive fees and save money when you get a mortgage. 
Our Mortgage Closing Cost Calculator also enables you to compare proposals provided by different lenders to understand how competitive their loan terms are.  We also provide a detailed explanation and example of mortgage closing costs.

Represents an estimate only. Closing costs vary by lender and service provider
Please note that at the time of closing, in addition to paying the non-recurring closing costs listed above, the borrower is also required to pay recurring closing costs such as interest (from the day of closing until the end of the month in which your mortgage closes), pro-rated property taxes, homeowners insurance, homeowners association fees (if applicable), private mortgage insurance (PMI) (if applicable), mortgage insurance premium (MIP) (if applicable) and impounds

The estimated non-recurring closing costs do not include the cost of any discount points you may decide to pay. A discount point is equal to 1.0% of the amount of the mortgage. If you decide to pay discount points to lower your interest rate, you will incur additional up-front costs
Please note that this calculator assumes a flat lender fee of $995. Lender fees vary and some lender may charge no fees although this can result in the borrower paying a higher interest rate, which can cost you more money in interest expense over the life of the mortgage
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Points  More Info:
Points: Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
Total Lender Fees:  
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Monthly Housing Payments
P & I More Info
Principal & Interest: A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to the reduction of the principal balance.
Mortgage Insurance More Info
Mortgage Insurance: The monthly cost for a policy that protects the lender in case you’re unable to repay the full amount of the loan. It is typically required for loans that have a loan-to-value ratio between 80% to 100%.
Property Tax More Info
Property Tax: (Also called "Real Estate Tax.") Property taxes are government assessments on real estate property. With mortgage financing, the local, county or state tax assessment on real estate property is considered part of the monthly housing obligation and typically collected and set aside by the lender ...
Homeowner Insurance More Info
Homeowner Insurance: or also commonly called hazard insurance, is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of its use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.lender ...
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Homeowner Association fee: (HOA) fees are funds that are collected from homeowners in a condominium complex to obtain the income needed to pay (typically) for master insurance, exterior and interior (as appropriate) maintenance, landscaping, water, sewer, and garbage costs.
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Points Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
Origination Fee More Info
Origination Charge: A loan origination charge is a fee charged by the lender for evaluating, processing, and closing the loan.
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Credit Report Fee: Fee charged to obtain an applicant’s credit history prepared by one or all of the three major credit bureaus. Used by lender to determine the borrower’s creditworthiness.
Tax Service Fee More Info
Tax Service Fee: A fee charged by the lender to cover the cost of retaining a tax service agency. These agencies monitor the property tax payments on the property and report the results to the lender.
Processing Fee More Info
Processing Fee: A processing fee is a charge by the lender for clerical items associated with the loan. Examples of processing include loan set up, organization of loan conditions for underwriting, and preparing required disclosures for the borrower.
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Underwriting Fee: A fee charged by the lender to verify information on the loan application, authenticate the property’s value, and perform a risk analysis on the overall loan package.
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Wire Transfer Fee: In most cases lenders wire funds to escrow companies to fund a loan. Commercial banks that perform this function will charge the lender so the fee is generally passed on to the borrower.
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FHA Upfront Premium: A fee paid in cash at the close of escrow or more commonly it is financed into the loan. These premiums are pooled together by the FHA and are used to insure the risk of borrower default on FHA loans. FHA upfront premiums are prorated over a five year period, meaning should the homeowner refinance or sell during the first five years of the loan, they are entitled to a partial refund of the FHA upfront premium paid at loan inception.
(If any)
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Other Fees More Info

Other fees could be either additional Administrative Fees that a lender charges or it could be a Flat Fee to cover all lender charges such as: (Origination Fees, Points, Underwriting and Processing Fees, Credit Reports and Tax Service Fees)

The flat fee does not include prepaid items and third party costs such as appraisal fees, recording fees, prepaid interest, property & transfer taxes, homeowners insurance, borrower’s attorney’s fees, private mortgage insurance premiums (if applicable), survey costs, title insurance and related services.

Total Lender Fees
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Current Mortgage Rates as of December 11, 2018
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
While we pride ourselves on the quality and breadth of the FREEandCLEAR mortgage calculators please note that they should be used for informational purposes only. Our calculators rely on assumptions by us and inputs and assumptions provided by you, which may be inaccurate. The outputs from our calculators are estimates only and should not be used as the sole basis for making any financial decisions. Always consult multiple financial professionals when determining the mortgage size and program that is appropriate for you.

What You Should Know About Mortgage Closing Costs


Closing Costs Vary

Mortgage closing costs vary by lender, location, property value, loan amount and program.  Closing costs are typically higher for larger mortgages on more highly valued homes.  Lenders fees also vary and lenders may use different terminology for the fees they charge.  Use our Mortgage Closing Cost Calculator to understand how property value and other factors impact closing costs.  Because mortgage closing costs vary and can run thousands of dollars, borrowers should shop multiple lenders to find the mortgage with the best terms.  Please note that there is usually a trade-off between the mortgage rate and closing costs quoted by lenders with the higher the closing costs, the lower the mortgage rate.  To compare mortgage quotes borrowers should  request a Loan Estimate document from each lender that outlines key mortgage terms such as interest rate and closing costs.  Borrowers can use the Loan Estimate to find the lender offering the mortgage with the lowest closing costs and interest rate.


Recurring Versus Non-Recurring Closing Costs

There are two types of mortgage closing costs: recurring and non-recurring.  Recurring closing costs are costs that borrowers continue to pay after the mortgage closes such as partial interest expense, homeowners insurance and pro-rated property tax.  Borrowers are required to pay a portion of these costs when their mortgage closes.  The amount of recurring closing costs primarily depends on when your mortgage closes so it can be difficult to estimate these costs up-front.  Non-recurring closing costs are one-time fees borrowers pay to the lender, settlement / escrow agent, title company, appraiser and other third parties to process and close your mortgage.  Non-recurring closing costs should be outlined up-front before you select a lender for your mortgage and are subject to negotiation because they are set by the lender and other third party service providers.  For example, you may be able to negotiate a lower lender origination fee or appraisal report fee.  Borrowers should compare and negotiate non-recurring closing costs with multiple lenders to reduce their expenses when they get a mortgage.  Our Mortgage Closing Costs Calculator determines estimated non-recurring closing costs to help you negotiate with lenders. 


Can You Include Closing Costs in Your Mortgage Amount

Borrowers are not permitted to directly include most closing costs in their loan amount for home purchase loans but you can request a rebate from the property seller to help pay for closing costs.  Having the seller pay for some or all of your closing costs through a rebate is basically the same as adding them to your mortgage amount.  Prospective home buyers with limited funds should consider Closing Cost Assistance Programs which help eligible borrowers pay for part or all of their mortgage closing costs through a grant.  Please note that you can include closing costs directly in your loan amount for refinancings. For example, with a no cost refinance all non-recurring closing costs are added to your new mortgage.  A no cost refinance, however, charges a higher interest rate than a mortgage with standard closing costs.  


Make Sure You Have Enough Money to Pay Closing Costs

Most people focus on their down payment when they budget for buying a home but closing costs usually run thousands of dollars.  It is important that you have enough money save to pay for both your down payment and closing costs in addition to any savings in reserve the lender requires you to hold when your mortgage closes.  In some cases, prospective buyers, particularly first-time home buyers, may not be aware of how much closing costs are and this lack of knowledge can create a significant financial obstacle, especially if you are already stretching your budget.  Be sure to factor in closing costs when you determine the total cost to buy a home and make sure you are familiar with programs that may help you pay for all or part of these costs.

More FREEandCLEAR Mortgage Resources

Mortgage Guides

How Much Are Mortgage Closing Costs?

Reivew our comprehensive, item-by-item breakdown of mortgage closing costs


Tips for Lowing Mortgage Closing Costs

Review insightful tips to help you lower your mortgage closing costs from a mortgage expert with over 40 years of experience


Mortgage Rates

Compare closing costs and mortgage rates for top lenders near you.  Comparing proposals from multiple lenders is the best way to find the mortgage with the lowest closing costs and interest rate

Ask a Mortgage Expert

Ask a Mortgage Expert

Got mortgage questions? We love answering them. Submit your mortgage questions and receive an informative response within 24 hours


What If You Can't Afford Closing Costs

Do not let the high price of closing costs deter you from buying a home. Review several options for paying for closing costs if you are tight on funds


Mortgage Closing Costs: https://www.consumerfinance.gov/ask-cfpb/what-costs-will-i-have-to-pay-as-part-of-taking-out-a-mortgage-loan-en-153/

About the calculator developer

Michael Jensen, Mortgage and Finance Guru

Michael is the co-founder of FREEandCLEAR. Michael possesses extensive knowledge about mortgages and finance and has been writing about mortgages for nearly a decade. His work has been featured in leading national and industry publications. More about Michael

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