Author Question: Lucky Louie qualified for a $250,000 mortgage for his new home. The loan application was $400, ... (Read 350 times)

bio_gurl · **on:** Apr 14, 2019

Lucky Louie qualified for a $250,000 mortgage for his new home. The loan application was $400, closing attorney fee $500, appraisal fee $400, title insurance $1200, document fee $75, credit check $50. The loan requires a 1% origination fee plus 1 point ( 1 %) interest to buy down the rate. How much are Louie's total closing costs?

◦ $5,500
◦ $7,625
◦ WOW!
◦ $5,125

DHRUVSHAH · **Reply #1 on:** Apr 14, 2019

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