Kari is purchasing a home for $260,000. The down payment is 25% and the balance will be financed with a 15 year mortgage at 8%

Question

Kari is purchasing a home for $260,000. The down payment is 25% and the balance will be financed with a 15 year mortgage at 8% and 4 discount points. Kari made a deposit of $20,000 (applied to the down payment) when the sales contract was signed. Kari also has these expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).

Kunduz · Accepted Answer

Click to see the answer