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CENTURY 21® Atlantic Professional Realty
Steven J. Panameno • NJ Lic. #2563515
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Know your closing costs before you commit 💰

Closing costs can add up quickly, and many buyers underestimate how much cash they may need at closing. Enter the purchase price and loan details below to estimate common closing costs, including lender fees, title-related charges, taxes, and prepaid items.

You can compare FHA and Conventional loan scenarios side by side to see how loan structure may affect your estimated cash to close. This tool is designed to help you plan ahead, understand the numbers more clearly, and avoid surprises later in the process.

A better understanding of your total cash needed — beyond just the down payment — can help you budget with more confidence.

NJ Down Payment Assistance

Select a county to see potential assistance. Nothing is applied to cash-to-close until lender eligibility is explicitly confirmed.

Atlantic County has a $10,000 base potential; designated higher-cost counties show $15,000.

Choose an official route only as a preliminary screen. The parent/legal-guardian property criterion, foster-care, emancipated-youth/minor, and homeless/unaccompanied-youth routes all remain potential and unverified until a participating lender confirms every requirement. Read the official NJHMFA fact sheet

Check this only after confirmation; otherwise the amount remains potential/unverified.
Base DPA potential
$10,000
Based on Atlantic County
First Generation route (potential)
$0
Potential only; verify all criteria
Potential total
$10,000
Not applied to cash needed
Common program checks
  • • First-time homebuyer definition or allowed exception
  • • County income and purchase-price limits
  • • Participating lender and required education
  • • Program-specific First Generation criteria

Inputs

Leave blank to use the purchase price. For Conventional seller-credit limits, the calculator uses the lower of purchase price or appraised value for both the LTV tier and dollar cap.

Credits / deposits

Typical fees (edit as needed)

Points (optional)

Points are prepaid interest. You pay more at closing to get a lower rate.

1 point = 1% of the loan amount
If you keep the loan past the break-even date, points usually make more sense.
Estimated cash to close
$19,018
After NJ help (if eligible):$19,018iThis subtracts the NJ help estimate widget from cash-to-close. Not guaranteed and not included in the main calculation.
Down payment
$12,250
Closing costs (est.)
$10,268
Seller credit applied to eligible closing costs
- $0
Loan-program seller-credit cap: $21,000 (6%)
Lender credit applied to eligible closing costs
- $0
Earnest-money deposit applied to down payment: $3,500
Base loan amount
$337,750
FHA upfront MIP (UFMIP) estimate: $5,911. This example assumes it is financed into the loan (common).
Total loan w/ financed UFMIP ≈ $343,661

Points summary

Points cost
$0
New rate
6.500%
Base rate 6.500% • 30 yrs
Monthly savings (P&I)
$0.00
P&I: $2,172.17 → $2,172.17
Break-even
—
Points don't reduce payment with these assumptions. (Based on your "keep the loan" estimate.)
Rule of thumb: if you'll refinance or sell before the break-even point, points usually aren't worth it.

Breakdown (estimate)

Down payment$12,250.00
Lender fees$2,500.00
Title / settlement$2,500.00
Recording / transfer$700.00
Appraisal$600.00
Inspection$650.00
Discount points$0.00
Prepaid interest (~$61.20/day × 15 days)$918.00
Tax escrow (3 mo × $650.00)$1,950.00
Insurance escrow (3 mo × $150.00)$450.00
Subtotal closing costs$10,268.00
Seller credit applied to eligible closing costs- $0.00
Lender credit applied to eligible closing costs- $0.00
Earnest-money deposit applied to down payment- $3,500.00
Remaining down-payment cash$8,750.00
Estimated cash to close$19,018.00
Confirmed assistance applied- $0.00
After NJ help (if eligible)$19,018.00
NJ title/settlement and county recording/transfer fees vary. Use this as a planning tool.