Buyer Closing Cost Calculator
Ready to see your closing costs estimate?
The most advanced buyer closing cost calculator in Nevada
This calculator is not intended to replace a professional estimate.
Traditional Agent
Via Houzeo
Target Home Price
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+ One-time Closing Costs & Fees (view details)
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+ Escrow & Pre-paid Expenses (view details)
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- Mortgage
$749,213
$749,213
- Houzeo Buyer Rebate
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Cash Needed from You at Settlement
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$0
1Cost of the popular Houzeo GOLD plan in Nevada
Detailed breakdown of your costs
Loan Costs This category provides a comprehensive overview of the fees involved in getting your mortgage. It is only applicable to home buyers who finance their property by getting a mortgage. It is not applicable to home sellers.
At Closing
Before Closing
A. Origination Charges Also known as origination fees, this is the amount charged by your lender for administrative costs associated with mortgage application and processing.
$2,648.03
$0
Origination fees Also known as origination charges, this is the amount charged by your lender for administrative costs associated with mortgage application and processing. Some lenders split this into
1. Application fee (the cost of taking your application and gathering documentation)
2. Underwriting fee (the cost to have someone look at your application and determine if you qualify).
$775
$0
Points Credit/Charge (0.25% of the Loan Amount) Points and lender credits let you make tradeoffs in how you pay for your mortgage and closing costs. Points, also known as discount points, lower your interest rate in exchange paying for an upfront fee.
$1,873.03
$0
B. Services Borrower Did Not Shop For This is a list of required services that the lender chooses. It can include an appraisal fee, credit report fee, flood determination fee, tax monitoring fee and tax status research fee. Check to be sure that these fees match the fees listed on your Loan Estimate.
$20
$477
Appraisal Fee The appraisal fee is charged by the lender to the borrower as a service or closing cost. Companies pay appraisal costs as part of the quality control process to ensure that their products and services meet customer expectations and regulatory requirements. These costs could include expenses for field tests and inspections.
$0
$447
Credit Report Fee At some point in the mortgage process, your lender will check your credit. This fee covers their cost to obtain a copy of your credit reports and scores
$0
$30
Flood Certification A document that states the flood zone status of the property. Federal Emergency Management Agency (FEMA) flood maps are examined using the address or geographic coordinates of the property.
$20
$0
C. Services Borrower Did Shop For These are the third-party services that you might have bargain-hunted on your own. They could include a pest inspection, survey and any title-related services (including title insurance, settlement agent, and title search fees).
$NaN
$0
Home Inspection (pest, etc) Required by the lender to ensure that a house is free of any such issues.
$450
$0
Survey Fee A survey fee goes to the survey company that verifies and confirms your property lines before you close. The detailed assessment discloses the exact boundaries of the property, as well as things like gas lines, roads, walls, easements, encroachments, etc.
$325
$0
Title Search and Lenders Title Insurance Protects your lender against problems with the title to your property such as someone with a legal claim against the home in case the title is later found to be defective.
$NaN
$0
Postage/Courier Requirement for delivery of some documents such as tax documents, closing disclosure documents, etc.
$100
$0
Attorney, closing and settlement fees Legal fees are taken by an attorney for reviewing documents and agreements during the process of closing a home.
$NaN
$0
Miscellaneous required services The title company may charge fees for a title search, title examination, document preparation, notary fees, recording fees, and a settlement or closing fee.
$0
$0
D. TOTAL LOAN COSTS (Borrower Paid)
$NaN
$477
Loan Costs Subtotals (A + B + C)
$NaN
$477
Other Costs This category provides a comprehensive overview of the costs involved in getting your Taxes, fees, and prepaid costs as well as any other fees.
At Closing
Before Closing
E. Taxes & Other Government Fees This is a fee charged by your county associated with your house price.
$230
$0
Recording Fees Paid to the government to officially record the change of ownership of the home.
$230
$0
Transfer Tax Tax assessed on the transfer of the deed or title based on the home value.
$0
$0
F. Prepaids The upfront payments you make at closing for certain mortgage expenses before they're actually due.
$NaN
$0
Pre-paid Homeowner's Insurance Premium (12 months) Homeowner's insurance premium is the annual amount you pay to your insurance company to keep your policy active.
$NaN
$0
Up-front Mortgage Insurance Premium Up-Front Mortgage Insurance Premium ("UFMIP") - Required payment at the time of getting an FHA loan.
$0
$0
Prepaid Interest Charges for 15 days The amount of interest that will accrue on the mortgage between the settlement date and the beginning of the first full month of your mortgage.
$1,192.75
$0
G. Initial Escrow Payments at Closing An initial escrow deposit is an amount that you will pay at closing to start your escrow account if required by your lender.
$NaN
$0
Escrow Homeowner's Insurance (for 2 months) An amount of money destined to pay homeowner’s insurance held by a third party until the real estate transaction is complete. Homeowner’s insurance is an insurance policy that provides compensation for damage, loss or injury of property, belongings or people due to fire, theft, accidents, etc. for homeowners.
$NaN
$0
Escrow Property Taxes (for 3 months) An amount of money destined to pay property taxes held by a third party until the real estate transaction is complete. Property taxes are a government levy based on the market value (as assessed by a local tax assessor) of the property.
$NaN
$0
H. Other
$NaN
$0
Owner's Title Insurance Owner's title insurance provides protection to the homeowner if someone sues and says they have a claim against the home from before the homeowner purchased it
$NaN
$0
I. TOTAL OTHER COSTS (Borrower Paid)
$NaN
$0
Other Costs Subtotals (E + F + G + H)
$NaN
$0
J. TOTAL CLOSING COSTS (Borrower Paid)
$NaN
$477
Closing Costs Subtotals (D + I)
$NaN
$477
Bobby V sold his Chicago home and saved $26,097 with Houzeo. You can too!
Start Your Free Listing NowA closing costs calculator for buyers gives you an estimate of your closing costs while buying a house after deducting local closing costs. Buyer closing costs are typically between 2% and 5% of the purchase value.
At Houzeo, we’ve worked with experts, including Title Agents and Escrow Agents to develop and program our Buyer Closing Cost Calculator. With thousands of properties sold on Houzeo, the Buyer Closing Cost Calculator is updated to reflect closing costs in the most niche of transactions.
Additionally, Houzeo’s Buyer Closing Cost Calculator highlights even the junk fees that you need to be careful of.
The estimated closing costs for buyers in Nevada include several fees like: origination charges, total loan costs, taxes & other government fees, and the down payment.
The equation involved in the process looks something like this:
Total Closing Costs for Buyer = (Origination Cost + Services Borrower Did Not Shop For + Services Borrower Did Shop For) + (Taxes & Other Government Fees + Prepaids + Initial Escrow Payments at Closing + Any Other Fees).
Mortgage rates surpassed 6% for the first time since 2008, and are set to rise further in 2023. If you are planning on purchasing a house, you should analyze the prevalent mortgage rates and their impact on your finances before applying for a mortgage pre approval.
The origination fee related to the mortgage can get up to 1% to 1.25% of the total estimated buyer closing costs. Also, closing costs may vary depending on the state, the type of loan, and the lender.
Estimate closing costs for buyers is an umbrella term that constitutes several other costs. Houzeo’s advanced closing cost calculator for buyers in Nevada is a meticulously designed tool that gives buyers an idea of how much they will pay before and during closing.
The buyer’s estimated closing costs worksheet involves two types of costs. i.e, Loan Costs and Other Costs.
This category consists of fees involved in securing a mortgage.
The origination charge or origination fee is the amount charged by the lender for administrative costs related to the mortgage application and processing. It consists of two parts:
1. Origination fees: A standard fee lenders charge to originate the mortgage.
Approx Cost: 1% of the loan amount.
2. Points: Points are a fee paid in exchange for a lower interest rate. A borrower is essentially buying a lower interest rate by paying more upfront.
Approx Cost: 0.25% of the loan amount
This is a list of required services chosen by the lender. It may include an appraisal fee, a credit report fee, a flood determination fee, a tax monitoring fee, and a tax status research fee.
1. Appraisal Fee: An appraiser is usually hired by the lender and is paid an appraisal fee. They verify the property’s size, features, current condition, and the market price.
Approx Cost: $300 to $500
2. Credit Report Fee: The cost paid by the lender to procure the borrower’s credit report from one of the credit agencies.
The credit report gives an overview/background of the buyer. It is based on the buyer’s credit card balances, other loans like mortgages and auto loans, and public records like bankruptcy and current/previous court judgments.
A credit report intends to provide a summary of whether the borrower has been responsible with their credit.
Approx Cost: $30
3. Flood certification: The lenders often require buyers to buy flood insurance in areas that are flood prone.
FEMA (Federal Emergency Management Agency) provides an elevation certificate that determines the home’s flood risk and helps reduce flood insurance costs.
Approx Cost: $15 to $20
These are third-party services that buyers can find on their own. It may include a home inspection fee, title insurance fee, a survey, or other miscellaneous fees.
1. Home Inspection (pest, termite, etc): The home inspection fee refers to the service charge usually paid by the buyer to a home inspector to inspect the property’s condition.
Approx Cost: $250 to $500
2. Survey Fee: A fee paid to the surveyor who verifies and evaluates the boundaries, location of fences, walls, gas lines, and so on.
Approx Cost: $100 to $400
3. Title Search and Lenders Title Insurance: A lender’s title insurance policy and home title search protect the lender and buyer in case of an ownership dispute or a title defect.
Approx Cost: Variable
4. Postage/Courier: Courier service fee whenever there is a requirement to send documents like tax documents, closing disclosure, etc.
Approx Cost: $30 to $80
5. Attorney, Closing, and Settlement fees: Fees paid by the buyer to the attorney for reviewing legal documents and agreements during the closing. An attorney, closing agent, or settlement agent helps a buyer and seller close a deal.
Approx Cost: Variable
6. Miscellaneous Services: The lender may have services that don’t fall under any category. Houzeo’s buyer closing cost estimator groups these in miscellaneous services.
Approx Cost: Variable
This category provides a comprehensive overview of the costs associated with your taxes.
Fees charged by the county are associated with home prices.
1. Recording Fees: The amount paid to the government to record the change of ownership of the home.
Approx Cost: Variable
2. Transfer Tax: The amount of tax assessed on the deed or title transfer based on the home value.
Either seller or buyer Nevada can pay a transfer tax. This depends on the negotiations.
Approx Cost: Variable. Some states levy transfer taxes, while some do not.
Prepaids are payments made at closing for a specific mortgage expense before it is due.
1. Pre-paid Homeowner’s Insurance Premium (12 months): The annual amount you pay your insurance company to keep your policy active.
Approx Cost: Variable
2. Up-front Mortgage Insurance Premium (UFMIP): Your lender may require you to pay for mortgage insurance upfront, depending on the size of your down payment.
Approx Cost: Variable
3. Prepaid Interest Charges for 15 days: The difference between the settlement date and the beginning of the first full month of the mortgage is termed prepaid interest charges.
Approx Cost: Variable
The amount required to start an escrow account if a lender asks. It is generally paid at closing.
1. Escrow Homeowner’s Insurance (for 3 months): Lenders require the buyers to place some amount in the escrow towards the homeowners’ insurance. This covers the costs if the buyer cannot pay for the insurance.
2. Escrow Property Taxes (for 3 months): Property taxes are levied by the government based on the local market value of the property. Lenders may require buyers to place some amount in the escrow towards property taxes. This covers the costs if the buyer cannot pay for the property taxes.
Approx Cost: Variable. These buyer closing costs are the most common ones’ when your down payment is less than 20%. The loan estimate should reflect how much money a buyer has to put in the escrow account.
An owner’s title insurance policy protects the homebuyer and the homeowner if there are problems with the title.
The buyer needs to be protected from financial losses if someone sues the present homeowner and claims the house.
Approx Cost: Variable. Though, they can cost more than 0.5% of the loan balance.
Use the Nevada closing cost estimator for buyers to see all these aforementioned buyer closing costs in one comprehensive sheet.
This buyer closing cost calculator Nevada is only for planning and educational purposes.
Disclaimer: All calculations and costs are estimates, and no express or implied warranty is made to consider all potential costs. The Buyer Closing Cost Calculator is not intended to be a replacement for the services of a professional appraiser or financial planner. Before signing any legal document relating to the sale or purchase of a property, please consult a qualified attorney.