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What's new
in this version of the calculator?
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Our New and Improved Good Faith Estimate of Buyers Closing
Costs Calculator now supports
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VA, FHA, and Conventional Loan
Products, Seller contributions to buyers closing costs, & an
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updated mouse-over explanations of costs section. Thanks
for your support!
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Minneapolis / Saint
Paul
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Good Faith Estimate of Closing Costs
Calculator
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Input
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Results
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TYPE OF LOAN
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1
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SALE PRICE
OF HOME
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2
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DOWN PAYMENT INCLUDING EARNEST MONEY %
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3
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MORTGAGE AMOUNT
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4
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Mortgage
Amount with included FHA MIP or DVA Funding Fee (Upfront Mortgage Insurance)
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TITLE INSURANCE &
CLOSING FEES
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5
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Lenders
Title Insurance (Input Actual Amount if known or E to estimate at $2.50 per
thousand) Required by Lender
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6
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Title
Insurance (Owner) or Attorney Opinion.
This is optional, see title company for rates.
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7
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Plat
Drawing Inspection
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8
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Recording
Fees (number of documents)
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9
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Name &
Judgment Search
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10
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Mortgage Registration Tax. Hennepin or
Ramsey County input Y, any other county =N
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11
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Settlement
/ Closing Fee
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LOAN
FEES
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12
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Origination
or Assumption Fee (as % of $
borrowed)
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13
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Credit
Report Input
number of borrowers
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Search For Homes!
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14
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Appraisal
Fee
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15
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Arm or
Balloon Endorsement Fee (Enter
Y if this applies)
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Chuck Heubach CRB CRS GRI 952.239.1311
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16
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Discount
Points (for fractions of % input a zero before dot).
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Linda Heubach CRS ePro
952.931.9008
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17
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Commitment
Fee (Enter E to Estimate at $500 or enter actual charge. Will vary from
Lender to Lender
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18
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Underwriting
Fee
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19
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DVA
Mortgage Insurance Premium Paid at Closing.
Input % from Chart on Right
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DVA 1st time use, purchase
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20
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FHA
Mortgage Insurance Premium Paid at closing.
There will also be a monthly fee.
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Down
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Active
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Reserves
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21
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Flood
Certification
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Payment
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Duty
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Nat. Guard
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22
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Administrative
Compliance Fee: Charged by Brokers in
addition to commission.
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0% to 4.99%
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2.20%
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2.40%
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ADDITIONAL PREPAID ITEMS
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5% to 9.99%
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1.50%
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1.75%
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23
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Interim
Interest Insert Day of the Month of
closing
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10% +
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1.25%
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1.50%
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24
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Home
Warranty (Average Cost is $329) Paid Outside of Closing
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DVA 2nd time use, purchase
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25
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1st Yr
Hazard Insurance Insert Your Estimate or $240 for Condo Owners
Insurance. Insert E to estimate at 1/2 of 1% of value. Insurance rates vary, and usually are based
on replacement value.
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Down Payment
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Active Duty
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Reserves/NG
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26
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Fees Paid
to a Private Inspector (Paid Outside of Closing)
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0% to 4.99%
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3.30%
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3.30%
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ESCROW ACCOUNT
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5% to 9.99%
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1.50%
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1.75%
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27
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Homeowners
Insurance (2 Months)
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10% +
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1.25%
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1.50%
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28
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Mortgage
Insurance (2 Months)
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29
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Property
Taxes (Enter Annual Taxes)
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30
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Total Expenses Excluding Down Payment
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31
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Sellers
Paying Buyer's Closing Costs: Enter
This as a Negative Amount!
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MONTHLY PAYMENT BREAKDOWN
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32
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Principal
& Interest (Select Estimated Interest Rate)
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33
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Homeowners
Insurance
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$ -
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34
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Mortgage
Insurance (Conventional)
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35
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Mortgage
Insurance (FHA)
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36
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Taxes
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$ 2,525.00
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37
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Homeowner
Association Fees (HOA)
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38
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Total Monthly Payment
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These estimates are based upon information
available at this date & may not agree with actual charges determined at
closing. Also see your lenders good faith estimate, which should be provided
to you by the loan officer. Take time to review these services
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39
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Total
Cash Required to Close, including down Payment:
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40
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Total of Payments over 30 Years:
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41
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Total
Interest over 30 Years:
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42
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APR :
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Real Estate Brokers occasionally create
partnerships with service providers such as lenders, title, inspection, or
builders. This broker may receive
financial or other benefits from these partnerships or affiliated service
providers. THERE ARE FREQUENTLY OTHER
MORTGAGE OR SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU
ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES
AND THE BEST RATE FOR THESE SERVICES. YOU MAY ALSO USE YOUR ATTORNEY TO
RECOMMEND OR PROVIDE THESE SERVICES.
The above data is for estimation
purposes only and the accuracy of the figures is not guaranteed.
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