New Jersey closing cost calculator
Closing costs for New Jersey buyers - including NJ's outsized escrow burden.
NJ buyer closing costs are moderate at the table but the prepaid escrow line item is brutal - NJ has the highest effective property tax rate in the country (2.49% on average). Your initial escrow deposit can easily exceed $8,000 on a $500,000 home. NJ is an attorney-closing state.
Worked examples
Real numbers for common scenarios. These are estimates - your final closing disclosure will reflect the exact fees your specific loan and property require.
Scenario
$525,000 home in Bergen County, 20% down
Inputs
- Sale price
- $525,000
Estimate
- Closing attorney
- $1,400
- Title insurance
- $2,200
- Lender fees
- $2,000
- Initial escrow (NJ tax-heavy)
- $8,500
- Survey + recording
- $850
- Estimated buyer closing costs
- $14,950
Run your own numbers
The calculator gives you the same itemized breakdown for any price, down payment, loan type, and location.
Open the calculatorFrequently asked questions
What is the NJ Mansion Tax?+
New Jersey charges a 1% "mansion tax" on residential sales over $1,000,000. Unlike most transfer taxes, this one is paid by the buyer at closing. On a $1.2M sale that's $12,000 out of the buyer's pocket. The tax kicks in at $1,000,001 - a $999,999 sale pays $0.
All numbers shown are estimates for planning purposes. Closing costs, taxes, and fees vary by lender, title company, county, and individual transaction. LoanElk is not a lender, broker, or financial advisor. Your final Loan Estimate and Closing Disclosure are the authoritative figures.