Purchase price and loan amount
The price is the home’s cost; the loan is what you borrow after the down payment. Some fees are based on one or the other.
Estimate the closing costs for your refinance based on loan amount, location, and loan type.
Closing costs are the fees and advance payments needed to finish your home purchase. They are separate from your down payment, so a buyer can have enough down-payment money and still need more cash to close.
Use this estimate to plan savings, then compare it with each lender’s Loan Estimate and final Closing Disclosure. Fees depend on location, lender and closing date; an estimate is not a binding invoice.
The price is the home’s cost; the loan is what you borrow after the down payment. Some fees are based on one or the other.
Lender charges for arranging the loan. A point equals 1% of the loan and may buy a lower rate.
A professional estimate of the property’s value for the lender.
Charges to check ownership, insure against certain ownership problems and register documents.
Insurance, daily interest and tax reserves paid ahead of time, rather than fees for lender services.
Down payment plus closing costs and prepaids, less deposits already paid and any approved credits.
Closing Cost Estimator — Separate monthly debt-service-to-income from upfront cash: down payment plus fees and prepaids, less deposits and approved credits. Avoid counting earnest money twice.
Historical 2025 one-unit comparison: conforming $806,500; FHA floor $524,225. County and unit-count limits can differ.
| Loan program | Down payment / equity | 2026 one-unit baseline | Costs and page-specific comparison |
|---|---|---|---|
| Conventional | 3%–5% subject to eligibility | $832,750 | PMI generally below 20% down |
| FHA | 3.5% at 580+; 10% at 500–579 | $541,287 floor | 1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years |
| VA | 0% for eligible borrowers | No VA limit with full entitlement | No monthly PMI; funding fee unless exempt |
| USDA | 0% for eligible borrowers | Income, address and repayment eligibility | Guarantee and annual fees; confirm current schedule |
| Jumbo | Lender-specific cash and reserves | Above applicable conforming limit | Lender-specific pricing and insurance |
| Home Equity / Refinance | Equity and underwriting dependent | Property and lender dependent | Compare closing costs, term and break-even |
Sources: FHFA limits; HUD FHA limits.
Monthly principal and interest use P × r / (1 − (1 + r)−n), where P is the loan amount, r is the monthly note rate and n is the number of payments. At zero interest, use P / n. Add property taxes, homeowners insurance and applicable mortgage insurance to estimate the full payment. Use parcel-specific taxes and an insurance quote when comparing homes.
APR includes applicable finance charges; use the note rate, not APR, for amortization. Compare Loan Estimates with the CFPB guide.