Comprehensive closing cost estimates for buyers, cash buyers, and sellers in Pennsylvania and New Jersey. All lender, title, and government fees included — with market-based assumptions you can adjust.
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Schedule a Free Buyer Consultation →Yes — cash buyers typically save $5,000–$12,000+ compared to financed buyers on the same property. The savings come from skipping all lender fees (origination, underwriting, processing, credit, flood cert, tax service), the lender's title insurance policy, the mortgage recording fee, prepaid interest, escrow reserves, and any PMI/MIP/VA funding fees. Cash buyers still pay for the owner's title policy, title search, settlement, transfer tax (buyer share in PA), and any inspections they choose to order.
Absolutely — it is strongly recommended. The owner's title policy protects your equity against defects that a title search can't find: forged deeds in the chain of title, undisclosed heirs, recording errors, unfiled liens, and fraud. It's a one-time premium that covers you for as long as you own the property. On a $350,000 home, the PA TIRBOP owner's policy runs roughly $1,900–$2,200. For a cash buyer who just put hundreds of thousands of dollars into an asset with no lender oversight, skipping title insurance is generally a bad risk.
PA state transfer tax is 1% and local municipalities typically add another 1%, for a total of 2% in most of Greater Philadelphia. By custom, this is split 50/50 between buyer and seller — but this is fully negotiable in the contract. In Philadelphia city, the combined rate is 4.278% (3.278% city + 1% state), which is one of the highest in the state and often a material line item. The law makes both buyer and seller jointly liable, so the tax is always collected at closing.
As of July 10, 2025, this flipped from buyer to seller. The "mansion tax" is now the Graduated Percent Fee, and sellers pay it on residential sales over $1 million. It's now tiered: 1% ($1M–$2M), 2% ($2M–$2.5M), 2.5% ($2.5M–$3M), 3% ($3M–$3.5M), and 3.5% over $3.5M. The rate applies to the entire sale price, not just the amount over the threshold — meaning a $2,000,001 sale is taxed at 2% on the full amount, not 1%. This creates pricing cliffs sellers should be aware of when negotiating.
The lender's policy protects the mortgage lender's interest up to the loan amount and is required for every financed purchase. The owner's policy protects the buyer's equity up to the purchase price. When purchased together at closing, the lender's policy is typically issued at a heavily discounted "simultaneous issue" rate. Cash buyers only need the owner's policy (and it's issued at the full basic rate since there's no lender policy to piggy-back on).
For financed buyers, federal law (TRID) requires your lender to send a Loan Estimate within 3 business days of your completed application. A few days before closing, you'll receive the Closing Disclosure with final numbers — legally this must be delivered at least 3 business days before closing so you have time to review it. For cash buyers, your title company or settlement attorney will provide a preliminary HUD-1 or ALTA settlement statement usually within a week of closing.
Some fees yes, most no. On a purchase, origination and certain lender fees can sometimes be paid by taking a higher interest rate (lender credits). FHA Upfront MIP is typically financed into the loan. Seller concessions (credit from seller at closing) are a common way to effectively roll costs into the purchase price — but they're capped by loan program (typically 3% conventional low-DP, 6% FHA, 4% VA).