Illinois Closing Costs Calculator
Estimate closing costs for buying a home in Illinois. Average closing costs run 2.0% of the purchase price (about $5K on the median home).
Illinois: Avg closing costs 2.0% of price. Transfer tax: 0.1%.
Lender Fees
$2,369
origination, underwriting
Third-Party
$2,800
appraisal, title, inspection
Government Fees
$270
transfer taxes, recording
Prepaids + Escrow
$5,660
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$1,944
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,650
Recording Fee$150
Transfer Tax$270
Prepaid Taxes (3 mo)$1,397
Prepaid Insurance (12 mo)$1,900
Prepaid Interest (15 days)$649
Escrow Reserves$1,714
Total Closing Costs$11,099
Illinois Housing at a Glance
Median Home Price
$270K
Illinois statewide
Property Tax Rate
2.07%
$466/mo on median
Avg Closing Costs
$5K
2.0% of purchase price
Homeowners Insurance
$1,900/yr
$158/mo
Illinois First-Time Buyer Program
IHDA 1stHomeIllinois
Down payment assistance: $7,500 forgivable loan