Home Buying Cost Calculator
Calculate all upfront and ongoing costs of buying a home — beyond the down payment.
Enter Details
Results
Related Calculators
Frequently Asked Questions
What closing costs should I expect when buying a home?
Closing costs typically run 2-5% of the purchase price. On a $400,000 home that is $8,000-$20,000. Main components: loan origination fee (0.5-1%), appraisal ($500-$800), title insurance ($1,000-$2,000), attorney fees ($500-$1,500), prepaid property taxes and insurance (2-3 months), and recording fees. Buyers can negotiate for sellers to pay closing costs, especially in slower markets.
What is the true monthly cost of homeownership?
Beyond the mortgage P+I payment, add: property taxes (0.5-2.5% of value annually), homeowners insurance ($100-$200/month), PMI if down payment below 20% ($100-$300/month), HOA fees if applicable ($100-$800/month), maintenance (budget 1% of home value annually = $333/month on a $400,000 home), and utilities which are typically higher than renting.
How much cash do I need beyond the down payment?
Total cash needed at closing: down payment + closing costs (2-5%) + moving costs ($1,000-$5,000) + immediate repairs and improvements + 3-6 month emergency fund (do not deplete savings on the down payment). Many first-time buyers deplete their savings on the down payment and then struggle with unexpected home expenses. Maintain liquid reserves after closing.