Mortgage With Closing Cost Calculator

Introduction: Mortgages are a common way for individuals to purchase homes, but it’s important to consider all the associated costs, including closing costs. Our Mortgage With Closing Cost Calculator is designed to help you estimate the total cost of your mortgage, taking into account the loan amount, interest rate, loan term, and closing costs.

Formula: To calculate the total cost of a mortgage with closing costs, we use the following formula: Total Cost = (Monthly Payment x Number of Payments) + Closing Costs

How to Use:

  1. Enter the loan amount in dollars.
  2. Input the annual interest rate as a percentage.
  3. Specify the loan term in years.
  4. Enter the closing costs in dollars.
  5. Click the “Calculate” button.

Example: Suppose you are taking out a $250,000 mortgage with an annual interest rate of 4.5%, a loan term of 30 years, and $5,000 in closing costs. After entering these values into the calculator and clicking “Calculate,” you’ll get the total cost of your mortgage.


  1. What are closing costs? Closing costs are fees and expenses associated with finalizing a mortgage, including appraisal fees, title insurance, and legal fees.
  2. How does the calculator determine the monthly payment? The calculator uses the formula for a fixed-rate mortgage’s monthly payment.
  3. Can I change the input values and recalculate? Yes, you can enter different values and click “Calculate” as many times as you like.
  4. What happens if I don’t include closing costs in my calculation? Excluding closing costs will give you an estimate of the mortgage’s cost without these additional expenses.
  5. Can I use this calculator for adjustable-rate mortgages? This calculator is designed for fixed-rate mortgages.

Conclusion: Our Mortgage With Closing Cost Calculator is a valuable tool for anyone considering a mortgage. It provides a clear estimate of the total cost, helping you make informed financial decisions when purchasing a home. By factoring in closing costs, you’ll have a more accurate picture of your financial commitment, allowing for better financial planning.

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