Average Mortgage Closing Costs

Introduction

Average mortgage closing costs typically range from 2% to 5% of the loan amount. For a $300,000 loan, expect roughly $6,000 to $15,000. Costs vary by loan type, location, and lender. See What Are Closing Costs and Mortgage Closing Cost Breakdown.

Frequently Asked Questions

What are average closing costs?

Closing costs typically range from 2% to 5% of the loan amount. For a $300,000 loan, that's roughly $6,000 to $15,000. Costs vary by location, loan type, and lender.

What affects closing cost totals?

Loan amount, loan type (FHA, VA, conventional), location (title/recording fees vary by state), whether you pay points, and lender pricing all affect the total.

Can I reduce closing costs?

Shop lenders, compare Loan Estimates, negotiate lender credits, and shop for title/escrow where allowed. Seller concessions can also help.

Are closing costs included in the loan?

Some costs (e.g., upfront MIP, certain fees) can be financed into the loan, which increases your loan balance. Prepaid items and most third-party fees are typically paid at closing.