#GA CLOSING COST CALCULATOR FREE#

Houzeo’s Closing Costs Calculator is a free tool that factors in these elements to help you calculate closing costs in Georgia. Net proceeds is the amount of money you receive from the sale of your home minus the closing costs, which includes the broker’s commission and other fees, the remaining principal balance that you pay to your mortgage bank and any tax you have to pay on profit that exceeds your capital gains exclusion. Closing costs vary heavily according to location and mortgage rates. The former will give you an idea of how much you could have made if you had invested the down payment instead of buying your home. Opportunity costs are tracked for the initial purchase costs and for the recurring costs. The mortgage payment amount increases each year for the term of the loan because the tax credit shrinks each year as the interest portion of the payments becomes smaller. The resulting tax savings is accounted for in each item’s totals. Property taxes, the interest part of the mortgage payment and, in some cases, a portion of the common charges are tax deductible. These include mortgage payments, condo fees (or other community living fees), maintenance and renovation costs, property taxes and homeowner’s insurance. Recurring costs are expenses you will have to pay monthly or yearly in owning your home. This includes the down payment and other fees. Initial costs are the costs you incur when you go to the closing for the home you are purchasing.

Ga closing cost calculator