Closing Costs worksheet

1. Total closing costs: $11,600.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$300,000.00}-\mathrm{\$300,000.00}\times \mathrm{11\%}$$=\mathrm{\$267,000.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$267,000.00}\times \mathrm{2\%}+\mathrm{\$267,000.00}\times \mathrm{0\%}$$=\mathrm{\$5,340.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$300,000.00}\times \mathrm{0.1\%}$$=\mathrm{\$300.00}$

4. Total closing costs: add every item

   $\mathrm{\$5,340.00}+\mathrm{\$0.00}+\mathrm{\$760.00}+\mathrm{\$2,000.00}+\mathrm{\$300.00}+\mathrm{\$3,200.00}+\mathrm{\$0.00}$$=\mathrm{\$11,600.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$11,600.00}}{\mathrm{\$300,000.00}}$$=\mathrm{3.87\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$33,000.00}+\mathrm{\$11,600.00}-\mathrm{\$0.00}$$=\mathrm{\$44,600.00}$

2. Total closing costs: $10,336.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$420,000.00}-\mathrm{\$420,000.00}\times \mathrm{12\%}$$=\mathrm{\$369,600.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$369,600.00}\times \mathrm{1\%}+\mathrm{\$369,600.00}\times \mathrm{0\%}$$=\mathrm{\$3,696.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$420,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$840.00}$

4. Total closing costs: add every item

   $\mathrm{\$3,696.00}+\mathrm{\$0.00}+\mathrm{\$750.00}+\mathrm{\$2,050.00}+\mathrm{\$840.00}+\mathrm{\$3,000.00}+\mathrm{\$0.00}$$=\mathrm{\$10,336.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$10,336.00}}{\mathrm{\$420,000.00}}$$=\mathrm{2.46\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$50,400.00}+\mathrm{\$10,336.00}-\mathrm{\$0.00}$$=\mathrm{\$60,736.00}$

3. Total closing costs: $17,200.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$500,000.00}-\mathrm{\$500,000.00}\times \mathrm{12\%}$$=\mathrm{\$440,000.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$440,000.00}\times \mathrm{2\%}+\mathrm{\$440,000.00}\times \mathrm{0\%}$$=\mathrm{\$8,800.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$500,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$1,000.00}$

4. Total closing costs: add every item

   $\mathrm{\$8,800.00}+\mathrm{\$0.00}+\mathrm{\$1,100.00}+\mathrm{\$3,100.00}+\mathrm{\$1,000.00}+\mathrm{\$3,200.00}+\mathrm{\$0.00}$$=\mathrm{\$17,200.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$17,200.00}}{\mathrm{\$500,000.00}}$$=\mathrm{3.44\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$60,000.00}+\mathrm{\$17,200.00}-\mathrm{\$0.00}$$=\mathrm{\$77,200.00}$

4. Total closing costs: $11,070.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$420,000.00}-\mathrm{\$420,000.00}\times \mathrm{10\%}$$=\mathrm{\$378,000.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$378,000.00}\times \mathrm{1\%}+\mathrm{\$378,000.00}\times \mathrm{0\%}$$=\mathrm{\$3,780.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$420,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$840.00}$

4. Total closing costs: add every item

   $\mathrm{\$3,780.00}+\mathrm{\$0.00}+\mathrm{\$650.00}+\mathrm{\$2,400.00}+\mathrm{\$840.00}+\mathrm{\$3,400.00}+\mathrm{\$0.00}$$=\mathrm{\$11,070.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$11,070.00}}{\mathrm{\$420,000.00}}$$=\mathrm{2.64\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$42,000.00}+\mathrm{\$11,070.00}-\mathrm{\$0.00}$$=\mathrm{\$53,070.00}$

5. Total closing costs: $9,707.50

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$325,000.00}-\mathrm{\$325,000.00}\times \mathrm{9\%}$$=\mathrm{\$295,750.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$295,750.00}\times \mathrm{1\%}+\mathrm{\$295,750.00}\times \mathrm{0\%}$$=\mathrm{\$2,957.50}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$325,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$650.00}$

4. Total closing costs: add every item

   $\mathrm{\$2,957.50}+\mathrm{\$0.00}+\mathrm{\$850.00}+\mathrm{\$3,000.00}+\mathrm{\$650.00}+\mathrm{\$2,250.00}+\mathrm{\$0.00}$$=\mathrm{\$9,707.50}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$9,707.50}}{\mathrm{\$325,000.00}}$$=\mathrm{2.99\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$29,250.00}+\mathrm{\$9,707.50}-\mathrm{\$0.00}$$=\mathrm{\$38,957.50}$

6. Total closing costs: $9,574.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$340,000.00}-\mathrm{\$340,000.00}\times \mathrm{9\%}$$=\mathrm{\$309,400.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$309,400.00}\times \mathrm{1\%}+\mathrm{\$309,400.00}\times \mathrm{0\%}$$=\mathrm{\$3,094.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$340,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$680.00}$

4. Total closing costs: add every item

   $\mathrm{\$3,094.00}+\mathrm{\$0.00}+\mathrm{\$1,050.00}+\mathrm{\$2,500.00}+\mathrm{\$680.00}+\mathrm{\$2,250.00}+\mathrm{\$0.00}$$=\mathrm{\$9,574.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$9,574.00}}{\mathrm{\$340,000.00}}$$=\mathrm{2.82\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$30,600.00}+\mathrm{\$9,574.00}-\mathrm{\$0.00}$$=\mathrm{\$40,174.00}$

7. Total closing costs: $10,475.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$325,000.00}-\mathrm{\$325,000.00}\times \mathrm{10\%}$$=\mathrm{\$292,500.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$292,500.00}\times \mathrm{1\%}+\mathrm{\$292,500.00}\times \mathrm{0\%}$$=\mathrm{\$2,925.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$325,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$650.00}$

4. Total closing costs: add every item

   $\mathrm{\$2,925.00}+\mathrm{\$0.00}+\mathrm{\$900.00}+\mathrm{\$2,800.00}+\mathrm{\$650.00}+\mathrm{\$3,200.00}+\mathrm{\$0.00}$$=\mathrm{\$10,475.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$10,475.00}}{\mathrm{\$325,000.00}}$$=\mathrm{3.22\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$32,500.00}+\mathrm{\$10,475.00}-\mathrm{\$0.00}$$=\mathrm{\$42,975.00}$

8. Total closing costs: $9,830.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$430,000.00}-\mathrm{\$430,000.00}\times \mathrm{10\%}$$=\mathrm{\$387,000.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$387,000.00}\times \mathrm{1\%}+\mathrm{\$387,000.00}\times \mathrm{0\%}$$=\mathrm{\$3,870.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$430,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$860.00}$

4. Total closing costs: add every item

   $\mathrm{\$3,870.00}+\mathrm{\$0.00}+\mathrm{\$1,150.00}+\mathrm{\$1,950.00}+\mathrm{\$860.00}+\mathrm{\$2,000.00}+\mathrm{\$0.00}$$=\mathrm{\$9,830.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$9,830.00}}{\mathrm{\$430,000.00}}$$=\mathrm{2.29\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$43,000.00}+\mathrm{\$9,830.00}-\mathrm{\$0.00}$$=\mathrm{\$52,830.00}$

9. Total closing costs: $10,305.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$450,000.00}-\mathrm{\$450,000.00}\times \mathrm{11\%}$$=\mathrm{\$400,500.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$400,500.00}\times \mathrm{1\%}+\mathrm{\$400,500.00}\times \mathrm{0\%}$$=\mathrm{\$4,005.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$450,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$900.00}$

4. Total closing costs: add every item

   $\mathrm{\$4,005.00}+\mathrm{\$0.00}+\mathrm{\$700.00}+\mathrm{\$2,000.00}+\mathrm{\$900.00}+\mathrm{\$2,700.00}+\mathrm{\$0.00}$$=\mathrm{\$10,305.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$10,305.00}}{\mathrm{\$450,000.00}}$$=\mathrm{2.29\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$49,500.00}+\mathrm{\$10,305.00}-\mathrm{\$0.00}$$=\mathrm{\$59,805.00}$

10. Total closing costs: $14,350.00

1. Find the loan: the price minus your down payment (price × down %)

   $\mathrm{\$390,000.00}-\mathrm{\$390,000.00}\times \mathrm{10\%}$$=\mathrm{\$351,000.00}$

2. Lender charges: the origination fee and points are each a percent of the loan

   $\mathrm{\$351,000.00}\times \mathrm{2\%}+\mathrm{\$351,000.00}\times \mathrm{0\%}$$=\mathrm{\$7,020.00}$

3. Transfer taxes and recording fees are a percent of the price

   $\mathrm{\$390,000.00}\times \mathrm{0.2\%}$$=\mathrm{\$780.00}$

4. Total closing costs: add every item

   $\mathrm{\$7,020.00}+\mathrm{\$0.00}+\mathrm{\$1,000.00}+\mathrm{\$2,750.00}+\mathrm{\$780.00}+\mathrm{\$2,800.00}+\mathrm{\$0.00}$$=\mathrm{\$14,350.00}$

5. Divide by the price to see closing costs as a share of it

   $\frac{\mathrm{\$14,350.00}}{\mathrm{\$390,000.00}}$$=\mathrm{3.68\%}$

6. Cash to close: add the down payment, since you pay it the same day, then take off any credits

   $\mathrm{\$39,000.00}+\mathrm{\$14,350.00}-\mathrm{\$0.00}$$=\mathrm{\$53,350.00}$