Home Buying True Cost Calculator

The mortgage is just the beginning. See your complete Year 1 cost — stamp duty, legal fees, council tax, insurance, and maintenance — broken down by item, percentage share, and monthly equivalent.

Updates as you type NAR · CFPB · Tax Foundation data Print or copy results

Purchase Details Loan structure

Purchase price

Down payment (%) Bigger deposits unlock better mortgage rates.

Mortgage rate (%) 30-yr national avg: ~6.85% (Freddie Mac, Jun 2025)

Loan term 15-yr saves ~40% total interest but costs ~30% more monthly.

Closing Costs One-time at settlement

Closing cost rate (%) National range: 2–5% of loan. Ask about seller concessions.

Inspection & appraisal

Home inspection: $300–500. Appraisal: $300–600. Never skip.

Ongoing Annual Costs Recurring expenses

Property tax rate (%/yr) US avg: 1.07%. NJ highest (2.47%), HI lowest (0.29%).

Homeowners insurance (£/yr)

Use your latest buildings-insurance quote.

Mortgage insurance rate (%/yr) Applies if down payment <20%. 0.5–1.5% typical. Auto-zero if ≥20% down.

Service charge (£/month)

US avg for condos/townhomes: $200–300/mo. Zero for most single-family.

Maintenance reserve (%/yr) 1% rule — older homes or harsh climates: use 1.5–2%.

Moving & first-year setup

Local move: $800–2,500. Long-distance: $2,000–10,000. Plus appliances, blinds, etc.

Year-One True Cost of Buying

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beyond mortgage principal repayment · updates instantly

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Full Year-One Cost Breakdown

Data sources & methodology: Closing cost rates from CFPB Loan Estimate data and lender surveys. Property tax rates from Tax Foundation 2024. PMI rates from Urban Institute. Maintenance estimates from Harvard Joint Center for Housing Studies. Results are estimates for informational purposes only — not financial or legal advice. Full disclaimer →

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Data reference (United Kingdom): GOV.UK SDLT 2026/27; ONS UK avg house ~£290k; council tax Band D · figures as of 2026-06 · Compiled from official public sources via AI-assisted research, current to 2025-26; latest available data, not individually verified - general information, not advice.. See our methodology for how every figure is sourced and dated.

🔒 Calculations run 100% in your browser — we never see your numbers 📊 Built on primary-source data (see references above) 🔄 Reviewed 2026 · methodology · disclaimer

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