Budget for the costs on top of your down payment.
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Buyers usually pay 2% to 5% of the loan amount in closing costs: lender fees (origination, appraisal, credit report, points), third-party fees (title insurance, escrow or attorney, recording, transfer taxes) and prepaid items (homeowners insurance, property tax escrow and daily interest).
Sellers mostly pay agent commissions plus transfer taxes and title costs in some states. Your Loan Estimate and Closing Disclosure show the exact figures.
| You are the | Buyer |
| Home price | 400,000 $ |
| Down payment | 20% |
| Discount points | 0 |
| State | Texas |
| Transfer tax rate (your share) | 0% |
| Agent commission (seller) | 5.5% |
| Estimated closing costs | $11,105 |
| As % of the loan | 3.5% |
| Down payment | $80,000 |
| Cash needed at closing | $91,105 |
| Lender fees | $3,900 |
| Third-party fees and taxes | $3,150 |
| Prepaids and escrow | $4,055 |
$11,105.
| You are the | Seller |
| Home price | 500,000 $ |
| Down payment | 20% |
| Discount points | 0 |
| State | Texas |
| Transfer tax rate (your share) | 0% |
| Agent commission (seller) | 5% |
| Seller closing costs | $28,500 |
| As % of the price | 5.7% |
| Net from the sale (before mortgage payoff) | $471,500 |
$28,500.
Typically 2–5% of the loan: $6,400–$16,000 on a $320,000 mortgage.
Sometimes, through a no-closing-cost loan with a higher rate or lender credits; FHA and VA loans have specific rules.
Both sides pay some. Buyers can negotiate seller concessions, often up to 3–6% of the price depending on the loan type.
Upfront payments for homeowners insurance, a few months of property tax for the escrow account, and interest from closing to month-end.