What actually shows up at closing
Buyers bring their down payment plus closing costs — lender fees, title and escrow, an inspection and appraisal, and prepaid items like the first year of insurance and a tax reserve. Total closing costs typically run 2–5% of the price, on top of the down payment. Sellers rarely bring cash; they net the sale price minus the mortgage payoff, agent commission (usually the biggest line), title and transfer taxes, any concessions to the buyer, and repairs.
The single biggest surprise for buyers is prepaids and escrow reserves; for sellers it's how much commission and payoff eat into the headline price. This tool lays both out, line by line.
Frequently asked
- How much are buyer closing costs?
- Typically 2–5% of the purchase price, separate from the down payment. The exact mix varies by loan type, lender, and location.
- Do sellers pay closing costs?
- Yes — agent commission, title/transfer fees, and any concessions come out of the sale proceeds. Sellers usually net the price minus payoff and these costs rather than bringing cash.
- Are these exact?
- No — they're estimates to plan around. Your lender's Loan Estimate and the title company's settlement statement are the authoritative numbers. Rates and fees vary by state.