I'm not a mortgage broker, but I can give you a rough idea of your costs. If you were to purchase a home for $275,000 (lets assume nothing down) and you were buying in Multnomah County, with a close date in June, you would be looking at close to $10,000 in closing costs -- not all of these are fees, though. The Title Insurance would cost you about $370 and the escrow fees would be about $375. You would have $300 or so inspection and then you have your lender fees (probably $2750 origination and then lots of recording/doc prep/etc. fees). A big part of that amount is taxes and hazard insurance. The bank will want to establish reserves. Portland's property tax year runs from 7/1 to 6/30, so if you close in June, you will basically be starting from scratch and will need a year of reserves). If you paid for a house with cash, you would eliminate all of the lender fees, but you would still have the escrow/title insurance fees and the tax prorates. Escrow fees are based on the purchase price of the house. Hope that helps.
If you pay with mortgage, you are looking are more expense to include the latter, as well pro-rated taxes, and lender fees.
Jenn Lewis here in Eugene, Or from Prudential Real Estate. I am a new member to Trulia (one of my clients' just told me about it so I had to chekc it out!).... anyway, I have a great software that can give you a good estimate of your closing costs. If you want to run some numbers, just email me or give me call - 541.654.1333.
Also,I am a buyer's agent which means I am a realtor who specializes in helping buyer's find their perfect home so I'd be happy to help!
My website is http://www.JennLewisRealEstate.com and you can search all properties currently on the market in Oregon, not just my company's/personal listings.