Suppose you buy a house for $250,000. Your lender requires a 30% down payment (deposit) and points 2% (of the remaining
Posted: Thu Jul 07, 2022 2:23 pm
Suppose you buy a house for $250,000. Your lenderrequires a 30% downpayment (deposit) and points 2% (of theremaining loan) at closing. Other closing costs are$4,076.
a) The deposit due at signing is$[deposit].
b) What will your mortgage be? The remaining loan is$[mortgage].
c) The amount to pay in points is$[points].
d) The total amount due at closing is$[total].
a) The deposit due at signing is$[deposit].
b) What will your mortgage be? The remaining loan is$[mortgage].
c) The amount to pay in points is$[points].
d) The total amount due at closing is$[total].