Help with Applied Math summer school?

I have to do a section on closing costs and i dont understand it. One question says Edward purchased a new home with a mortage loan of 80,000. A credit report of $50 an appraisal of $225 a title search of $135 a recording fee of $80 and legal fees of $560 and a loan orgination of 2% mortage, what are his closing costs

1 Answer

  • 9 years ago

    Add..title search,recording fee,legal fees and the oringination $1,600

    (2% of 80k)=$2,375

    credit report is usually paid up front, appraisals are paid outside of closing, title search,recording fee and legal fees along with the oringination our usually closing cost..Hope that helps!!

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