How are closing costs calculated?

Fannie Mae lists the lender, outside settlement-service companies, where the property sits, and the loan product as the main drivers of closing costs. Because those inputs differ, two loans on similar homes can close with different cash-to-close figures.

The costs Fannie Mae names include government taxes, insurance premiums, and settlement charges — among them the settlement agent's fee and the appraisal fee. The frozen source does not publish a current national average, a standard percentage of the sale price, or a line-by-line worksheet. Compare the Loan Estimate and Closing Disclosure you receive for the actual figures on your transaction.