Which of the following is NOT commonly included in closing costs?

Monthly mortgage payments are typically not included in closing costs. Closing costs refer to the various fees and expenses that are required during the final steps of a real estate transaction when ownership is transferred from the seller to the buyer. These costs encompass both lender fees and other transaction-related expenses, but they do not include future expenses like monthly mortgage payments, which commence after the closing process is complete.

In contrast, loan origination fees, home inspection fees, and title insurance fees are standard components of closing costs. Loan origination fees cover the lender's costs for processing the loan. Home inspection fees pertain to the assessment of the property's condition, ensuring that the buyer is aware of any potential repairs before finalizing the purchase. Title insurance fees protect against any legal issues regarding the ownership of the property, ensuring that the buyer has clear title to the property being purchased. Each of these expenses is essential in completing the transaction and preparing for the buyer's ownership of the property.