Compare Listings

Closing costs in Buffalo NY Estimator

Closing costs in Buffalo NY Estimator

Closing costs in Buffalo NY are fees charged by the lender at the closing of a real estate transaction, and costs vary depending on the location and type of loan.

Typically in Buffalo N.Y. home buyers will pay between about 2 to 5 percent of the purchase price of their home in closing fees. So, if your home cost $150,000, you might pay between $3,000 and $7,500 in closing costs. On average, buyers pay roughly $3,700 in closing fees, according to a recent survey.


Buyer’s Estimated Closing costs in Buffalo NY

Here is a general idea of typical Closing costs in Buffalo NY and Erie County, NY:

  • Mortgage Fees – includes document preparation fee relative to the mortgage
  • Lender Fees and Charges:
  • Application Fee
  • Points (fee or credit)
  • Appraisal Fee
  • Pro-Rated Interest
  • 1st mortgage payment
  • NYS Mansion Tax (1% of entire price if it exceeds $1,000,000)
  • Property Tax Escrow – paid to the lender at closing for pre-paid real estate taxes, flood or hazard insurance premiums for 2-3 months.
  • Private Mortgage Insurance (if down payment is less than 20%) or Mortgage Insurance Premiums for all FHA loans.
  • Fire / Hazard Insurance (1 Year pre-paid)
  • Flood certification Fee – paid to the lender to search the flood maps for your property
  • Title Insurance (variable based on property’s value, standardized by law) – to protect the buyer and lender from any future, unexpected claims on the property
  • Attorney Fees: $600-$1,000
  • Title Search Fee – to review the title for liens, problems, etc.
  • County Clerk Recording Fee – $45 – $100


Seller’s Estimated Closing costs in Buffalo NY

Here is a general idea of typical Closing costs in Buffalo NY and Erie County, NY when selling a home:

  • Real Estate Broker Commission: 6% of Selling Price (3% to buyer’s broker & 3% to your listing agent); example only
  • NYS/Erie County Transfer Tax: 0.9% of sale price
  • Attorney Fees: $600-$1,000
  • County Clerk Recording Fees: $45-$100
  • Search & Survey – $300-600
  • Outstanding Mortgage, HELOC, Other Liens Balances, accrued interest

Closing costs in Buffalo NY may include loan origination fees, discount points, appraisal fees, title searches, title insurance, surveys, taxes, deed-recording fees and credit report charges. Prepaid costs are those that recur over time, such as property taxes and homeowners’ insurance.


Click View/Edit Closing Cost Details to view and enter traditional closing expenses


[closingcosts title=”Closing Cost Estimator”]


NOTE: The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program in Western NY. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. Additional fees such as HOA dues and taxes are not included in calculations. All information are estimates and should be used for comparison only.

Your lender in Buffalo or Western N.Y. will be the best source for estimating your closing costs. Always ask you lender to review their “Good Faith Estimate” with you.

Other tools:

Mortgage Affordability Calculator   * Search Homes Listings Direct To you



Related posts

Buffalo NY Mortgage Affordability Calculator

Use this tool for Buffalo N.Y. home buyers to find a home price range you can afford for a Buffalo...

Continue reading
by stevent37