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Find amount due at the closing

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Reference no: EM131319774

You are purchasing a home for $220,000. The down payment is 30% and the balance will be financed with a 20- year mortgage at 9% and 2 discount points. You put down a deposit of $5,000 (applied to the down payment) when the sales contract was signed. You also have these expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $225; and attorney's fees, $600. Find your amount due at the closing.

  • $66,625
  • $78,912
  • $10,314
  • $58,655

Reference no: EM131319774

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