For buyers
Closing Cost Estimator
The down payment is only part of what you bring to closing. This adds up the rest so nothing catches you off guard the week before you get the keys.
Estimated cash due at closing
$19,360
- Down payment
- $13,750
- Lender origination & underwriting
- $2,613
- Appraisal
- $600
- Credit report & flood certification
- $100
- Title insurance (lender's policy) & closing fee
- $1,650
- Recording fees & state/county charges
- $150
- Home inspection
- $450
- Prepaid property taxes & insurance (escrow)
- $2,048
What the lender charges to write the loan. Varies a lot between lenders — always compare Loan Estimates.
Required by nearly every lender. Paid up front, usually before closing.
Small third-party fees passed through by the lender.
In Michigan the seller customarily pays for the owner's title policy; the buyer pays the lender's policy and closing/settlement fees.
Michigan transfer tax is customarily paid by the seller, so it is not included here.
Optional but strongly recommended. Add more for radon, sewer scope, or well and septic testing.
The lender collects a cushion up front so the escrow account can pay your first tax and insurance bills.
Two things worth knowing
- In Michigan the seller customarily pays the state and county transfer tax and the owner's title insurance policy, so those are not in your column here.
- Asking the seller for a credit toward your closing costs is negotiable and very common. Enter one above to see how much it changes what you bring.
Please read
These are typical ranges, not quotes. Your real numbers come from the Loan Estimate your lender must give you within three business days of applying, and the Closing Disclosure you receive at least three business days before closing — those documents govern, not this page. Fees vary by lender, title company, loan program, and property. Escrow here assumes four months of taxes and insurance collected up front and estimates taxes at roughly 34.5 mills in Waterford Township; check your own figure with the State of Michigan property tax estimator. Never send closing funds based on emailed wire instructions — call the title company at a number you looked up yourself and verify first.
Want real numbers instead of estimates?
Send me the address or the price range you're considering and I'll get you the actual figures — the real tax bill, a lender quote, and what similar homes are selling for.