The Cost of Buying a Home Over 30 Years Purchase price (typical single-family home) $220,000 Down payment (10%) $22,000 Closing costs $11,000 Private mortgage insurance ( 76 payments of 0.5% PMI at $82.50) $6,270 Interest @ 4.5% $ 163,165.29 Taxes & insurance ($3,400/year) $102,000 Maintenance ($2,200/year) $66,000 Major repairs & improvements $200,000 Total costs $778,408.73
