What financing adds to the closing table.
Enter your numbersCompare the closing costs of paying cash and financing the same purchase.
Your numbers
About these inputs
Uses our published base estimate. Enter your quoted fee if different.
Everything above this is financed. Leave it blank and we’ll compare against financing the whole price.
Enter lender and appraisal charges from your Loan Estimate. Leave out title, recording, and attorney fees already calculated here. Added only to the financed side.
Cash and financed
Financing
| Cost | Cash | Financed |
|---|---|---|
| Title insurance | ||
| Recording | ||
| Attorney fee estimate | ||
| Lender charges | ||
| Total |
Enter a purchase price to compare
Add a down payment too and the financed side prices off the real loan.
Lender charges are not included. Enter those charges separately, leaving out title, recording, and attorney fees already shown here.
Above $5,000,000 we don’t publish an estimate. Give us a call and we’ll work it out properly.
Your down payment is larger than the purchase price. Check the down payment field above and we’ll run the numbers.
With no loan there is nothing to finance, so there is no comparison to draw. The closing cost calculator covers a cash purchase.
Prepaid taxes and insurance are not included.
Details and assumptions
The conveyance tax is in neither column. It is the seller’s, and financing does not change it.
Your numbers, to keep
Where should we send it?
Get a copy of this estimate, including the breakdown and assumptions.
Review the comparison
Your request is in.
Watch for your estimate by email. Check your spam folder if you don’t see it.
Your estimate is ready.
Local preview: no email was sent. This is the estimate the email workflow will receive.
Review the comparison
Your numbers stay on this page if you want to adjust them.
Questions about the numbers? Call (860) 603-2258.
This calculator needs JavaScript. The three costs below are the whole of the difference.
These calculators produce estimates for general information, not legal advice. Every transaction is different. Reach out to talk through yours.
About this estimate
Uses our published base attorney fee estimate unless you enter a different amount; your actual quote may differ. Connecticut standard CATIC policies; endorsements and closing protection letters are excluded. Recording assumes a three-page taxable deed and, when financed, an 18-page MERS or nominee mortgage. Different documents or page counts change the fees. Excludes title-search charges, prepaid interest, taxes, insurance and escrow deposits. Lender charges are included only when entered. This compares the costs shown, not total cash needed or the long-term cost of borrowing. General information, not legal advice. Every transaction is different. Contact Mancuso Carey to discuss your closing.
Two costs that exist only because of the loan.
And one that everybody counts and shouldn’t. Everything else on a settlement statement is the same whether you borrow or not.
A cash purchase records one document, the deed. A financed purchase records two, and the mortgage is the more expensive of them: it runs far longer than a deed and Connecticut charges per page. The estimate assumes an 18-page MERS or nominee mortgage at $245 and a three-page taxable deed at $82. An ordinary mortgage or different page counts change those fees.
Origination, underwriting, the appraisal, the credit pull. Usually the largest single piece of the difference and the least predictable, which is why this page asks you for the number rather than inventing one. Two lenders quoting the same rate can be hundreds apart here, and it is the part of a closing you can genuinely shop.
This is the one people add to the list, and it does not belong there. A financed buyer does need a lender’s policy, and it does protect the lender rather than them. But both policies are written at the same closing, so they are priced as one: the pair costs what the owner’s policy costs alone. Run the numbers above and the title line is identical in both columns. A cash buyer saves nothing here, because there was nothing to save.
Questions cash buyers ask.
Is it cheaper to buy with cash?
At the closing table, yes, and by a specific amount you can see above. Whether it is the better use of the money is a different question, and not one a closing attorney should be answering for you.
Does a cash buyer still need title insurance?
There is no lender’s policy, because there is no lender. But the owner’s policy protects your stake, and paying cash means more of your own money is in that stake. Removing the party who would have required a policy does not remove the reason to want one, and the premium is the same either way.
Does paying cash make the closing faster?
Usually, and mostly because the lender’s timeline disappears: no underwriting, no appraisal, no loan documents to prepare and no funding to wait on. The title work still has to happen, and that is the part that can surface something worth slowing down for.