What the calculation measures
Closing costs are not one universal percentage. Use the percentage field for taxes/recording/other variable items and enter known lender, title and prepaid amounts separately.
How to interpret the result
Compare the estimate with the lender loan estimate and settlement disclosures when available.
Run scenarios instead of one answer
Change the most uncertain input and compare outcomes. A calculator is most useful when it shows sensitivity, not when one estimate is treated as a guarantee.
Limits and assumptions
This tool does not determine legal fees, transfer taxes or local customs automatically.