Closing costs on an $800,000 house typically run $24,000 to $48,000 (3-6% of the purchase price). At this price point, jumbo loan considerations may affect your costs.
Buyer Closing Costs Breakdown
| Cost Type | Low Estimate | Typical | High Estimate |
|---|---|---|---|
| Loan origination fee (1%) | $6,400 | $8,000 | $8,000 |
| Appraisal | $650 | $900 | $1,200 |
| Credit report | $30 | $50 | $75 |
| Title insurance | $1,750 | $2,900 | $4,400 |
| Title search & exam | $400 | $650 | $1,000 |
| Attorney fees | $800 | $1,600 | $2,400 |
| Recording fees | $175 | $300 | $550 |
| Survey | $500 | $750 | $1,100 |
| Home inspection | $500 | $750 | $1,100 |
| Escrow/title company fees | $800 | $1,300 | $2,100 |
| Total fees | $12,005 | $17,200 | $21,925 |
Prepaid Items (Held in Escrow)
| Item | Low Estimate | Typical | High Estimate |
|---|---|---|---|
| Property tax (3 months) | $1,200 | $2,000 | $4,000 |
| Homeowners insurance (1 year) | $3,200 | $5,600 | $9,600 |
| Prepaid interest (15 days) | $1,070 | $2,200 | $2,690 |
| Total prepaids | $5,470 | $9,800 | $16,290 |
Jumbo Loan Considerations
At $800K, you may need a jumbo loan (above $766,550 conforming limit):
| Feature | Conforming | Jumbo |
|---|---|---|
| Available with 10% down | ✅ | May vary |
| Typical fees | Standard | +$500-1,500 |
| Appraisal requirements | Standard | May need 2nd appraisal |
| Processing time | Faster | May take longer |
Total Cash Needed at Closing
| Down Payment | Closing Costs | Total Cash Needed |
|---|---|---|
| 5% ($40,000) | $27,000 | $67,000 |
| 10% ($80,000) | $27,000 | $107,000 |
| 15% ($120,000) | $27,000 | $147,000 |
| 20% ($160,000) | $27,000 | $187,000 |
Closing Costs by State (on $800K)
| State | Avg. Closing Cost | % of Price |
|---|---|---|
| Missouri | $21,600 | 2.7% |
| Indiana | $23,200 | 2.9% |
| Texas | $33,600 | 4.2% |
| California | $38,400 | 4.8% |
| New York | $48,000 | 6.0% |
Ways to Reduce Closing Costs
| Strategy | Potential Savings |
|---|---|
| Shop lender fees | $1,000-3,000 |
| Negotiate seller credits | $4,800-24,000 |
| Compare lenders for jumbo rates | $2,000-5,000 |
| Ask seller to pay portion | 3-6% of price |
| Close at end of month | Reduce prepaid interest |
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