Imagine that you are purchasing a house for $150,000. You have saved some money and would like to obtain an 80% loan to value mortgage loan so that you can have the lowest interest rate on your mortgage. The closing costs are $3,000. The loan term is 20 years. The interest rate is 5%. Real estate taxes on the house are $1,800 per year. Homeowners insurance is $750 per year. There is a homeowner's association fee of $600 per year. Since you are putting 20% down, you will not have to pay for private mortgage insurance. You estimate that your utility bills will average $350 per month. How much cash do you need for the down payment and how much total cash do you need to close the loan and buy the house?