Ingles/Company Realtors :
Typical Buyer's Closing Costs and Sample Monthly Payments

It is customary for buyers to pay certain standard closing costs, including charges for their credit report, recording fee, and lender title insurance, prepaid interest and insurance costs and escrow amounts for taxes and insurance, plus underwriting fee, loan documantation fee, and tax service fee. Often buyers must also pay an origination fee, and sometimes discount points. These costs can vary depending on loan type and closing costs negotiated on the contract. Below is an example of closing costs and monthly payment, based on a conventional, 30 year loan, at 5% interest, for a $150,000 purchase price with a 5% down payment. With 5% down payment Private Mortgage Insurance (PMI) will usually apply for a conventional loan.

Sales Price: $150,000
Less Down Payment: $7,500
Mortgage Loan Amount: $142,500