Home Sale Budget and Closing Funds Calculator
Estimate a sale-budget balance or closing funds from explicit loan amounts, charges and credits.
What This Calculator Does
Answer two different cash questions: a sale-planning budget using today's mortgage balance, or closing funds using a dated payoff quote. Enter your own charges, allowances and credits. The result is a cash estimate that can be positive or negative; it isn't profit, a tax calculation or a guaranteed closing wire.
Who Is This For
For Florida home sellers and the agents helping them plan cash needs or review quoted settlement amounts. Use the budget before firm quotes are available and the closing mode when the relevant payoff and cash items have been supplied.
How It Works
Choose the mode and enter the sale price. In budget mode, enter today's loan balance, the yearly interest rate if there is a loan, whole months, and the preparation and moving budgets; enter other cash holding costs, or 0 if there are none (0 doesn't mean holding the property is free). In closing mode, enter the payoff quote and its date if there is one. For each fee and tax, choose a percentage or a dollar quote. Enter the negotiated commission and concessions, other debits and credits to you, using 0 where required. Tick the confirmation and compare the result (+ or −) with your current quotes.
Frequently Asked Questions
How is the sale budget different from closing funds?
The budget subtracts today's mortgage balance, the closing costs you entered, preparation, moving, other holding costs and interest on an unchanged balance. Enter the holding costs, or 0 if there are none; 0 doesn't prove there's no actual cost. Closing mode subtracts the dated payoff quote and the closing items you entered, but not those separate budget costs. A budget shortfall is not the cash due at closing.
Can I use the mortgage balance as my payoff quote?
Not automatically. A servicer's payoff can include interest through a stated date and other charges. Budget balance and closing payoff are separate inputs. For a positive payoff, record the quote's real date; entering it does not validate the quote. Confirm the amount and date with the servicer. A confirmed zero mortgage payoff needs no date; enter any other quoted lien separately if not included.
Are the commission and tax percentages standard Florida rates?
No. Commission and buyer concessions use the negotiated seller-paid percentages. A flat quote can go in additional debits with its percentage explicitly set to zero. Closing fees and taxes have separate percentage-allowance and dollar-quote fields; a legacy 0.7 means 0.7%, not $0.70. The tax allowance is not a statutory deed-tax calculation. Obtain the applicable seller-paid quote rather than assuming a universal rate or payer.
Which credits increase the seller's funds?
Only quoted credits payable to the seller, such as refunds or prorations not already included elsewhere. Seller concessions to the buyer reduce funds. Do not repeat a credit already netted into a payoff or fee quote, or enter the same charge in more than one field.
Do withholding and additional debits show my final tax or profit?
No. You may enter quoted prorations, escrow adjustments, withholding or other lien payments once as additional cash debits. Cash withheld or paid is not automatically a permanent expense or final tax. The calculator does not compute FIRPTA or income tax, approve a refund, measure profit or certify settlement figures.
How are zeros, holding costs and cents handled?
Every field in use must be filled in, using 0 where it is zero. Other holding costs need an amount, or 0 if none; 0 doesn't prove there's no actual cost. They cover listing-period tax, insurance, HOA and maintenance in budget mode only; leave out mortgage payments and items already counted. Percentage charges and budget interest are rounded to the cent per line before the totals are added up. Dollar quotes keep the cents you enter. Actual quotes may differ; confirm them with the servicer and closing agent.