Knowing how much cash you need to close starts with four numbers: your down payment, your closing costs, your prepaid expenses and reserves, and the credits applied in your favor. This calculator itemizes each one so the final cash-to-close figure is traceable, not a black box.
All results are preliminary estimates, not quotes. Final figures come from your Loan Estimate, your title company, and your settlement statement. 1st Option Title does not guarantee closing costs.
Your total funds required is the sum of these three buckets. Even a zero-down loan still has closing costs and prepaid reserves.
Seller credits, lender credits, and your earnest money deposit reduce the cash you must bring at the closing table.
What your title commitment tells you about the property before you close.
TDI-based title insurance premium estimate for Texas transactions.
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Research the property before you commit your cash.
Cash to close is your down payment plus estimated closing costs plus prepaid expenses and reserves, minus your earnest money deposit and any seller or lender credits. This calculator walks through each bucket so you can see exactly how your cash to close is built.
Typical buyer closing costs include the lender origination and discount points, appraisal and credit report fees, lender-required third-party charges, lender title insurance, owner title insurance when you pay for it, escrow and settlement fees, recording charges, HOA charges, and other transaction costs. The exact items depend on your loan program, your contract, and your state.
Yes and no. Prepaid property taxes, prepaid homeowners insurance, mortgage insurance reserves, and initial escrow account deposits are funds collected at closing, but they are reserves held in your name rather than fees paid to a service provider. This calculator reports them separately so you can see the difference.
No. Your earnest money deposit is applied toward your purchase and reduces the cash you must bring to closing. This calculator subtracts it once, after the total funds required, so it is never double counted.
Seller credits, also called seller concessions, are amounts the seller contributes toward your closing costs. They reduce the cash you bring to closing. This calculator applies them as a credit against the total funds required.
Yes. Title insurance premiums, escrow fees, recording charges, and government fees vary by state, county, and transaction. 1st Option Title can provide a quote for your specific transaction, and for Texas you can also use the Texas Title Premium Calculator for a TDI-based premium estimate.