Mortgage Closing Costs Calculator

Couple on the couch using a mortgage closing cost calculator.
Buying a home is one of the biggest financial decisions you’ll ever make; however, with all the excitement of finding the perfect place, it’s easy to forget about the closing costs. No one wants to experience sticker shock on closing day – use our calculator to get an estimate of how much you can expect to pay in closing costs.

What are closing costs?

Closing costs are expenses incurred during the process of buying a home. These costs include various fees and charges, such as a title search, appraisal, lender fees, surveys, inspections, and taxes associated with finalizing the mortgage and transferring ownership. The exact amount of closing costs can vary significantly and is influenced by factors like the property’s price, location, and type of mortgage. You can typically expect to pay between 2% and 6% of the home’s purchase price in closing costs.

When will I know the closing costs?

The estimated closing costs are generally disclosed to you when you receive the loan estimate package from your lender within three days of applying for a mortgage. The loan estimate outlines the estimated mortgage settlement costs, providing a breakdown of various fees and charges you can expect to pay. Throughout the mortgage process, you can expect to receive updated loan estimates from your lender.

How to estimate closing costs

To estimate closing costs accurately, you can use a mortgage closing cost calculator, which accounts for details like the property's purchase price, the loan amount, and the location. It's a useful tool to gauge the potential costs associated with your home purchase.


Can you negotiate closings costs?

In some cases, you may have the opportunity to negotiate or request a reduction in closing costs. Negotiating closing costs can help you reduce the financial burden associated with buying a home. Although you’re not able to negotiate fees charged by third-party providers, you are able to shop around to try and get the best deal on appraisals, insurance, and inspections. The fees charged by the lender, such as origination fees or processing fees, may be open to negotiation.

Depending on your unique financial situation, you may qualify for one or more programs designed to make homeownership more accessible. There are programs unique to SouthState, including our Opportunity Advantage loan program, that allow qualified borrowers to obtain a mortgage with a credit they can put towards closing costs. By taking advantage of these programs, you may be able to significantly reduce your closing costs. It's important to note that not all lenders offer these types of programs, so it's worth asking your lender to see if they have any similar options available.

Closing costs can vary depending on many factors like the property’s price, location, and the terms of your mortgage. To ensure you’re financially prepared for homeownership, it’s crucial to be cognizant of closing costs ahead of time. When closing day finally comes, you want to be able to show up, sign the papers, and snag the keys to your new home.

At SouthState, we’re proud to help borrowers like you navigate the homebuying journey. Your dream home may be within reach – contact a local mortgage banker today.

  • This calculator is an illustrative tool meant for educational purposes only. The default figures and examples shown are hypothetical and may not be applicable to your individual situation. Furthermore, these calculations may not reflect the terms available for any loan, investment or other financial product offered by SouthState Bank, N.A. (the “Bank”). The calculations do not infer that the Bank assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.
  • This content is general in nature and provided for informational use only. Content may be used in connection with the advertising and marketing of products and services offered by SouthState Bank, N.A. and its subsidiaries and affiliates. This is not to be considered legal, tax, accounting, financial or investment advice. You should seek individualized advice from personal financial, legal, tax and/or other professionals, as appropriate depending on the specific facts of your situation. We do not make any warranties as to the completeness or accuracy of this information and have no liability for your use of this information.

Secure Log In

Close login menu
Login Error

Your username is valid but has a problem. Please call customer support

Our website uses cookies to ensure your online experience is as informative and relevant as possible. Please review our Privacy Policy to learn more about the information we collect.