Answer:
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Based on the information provided, it can be inferred that the lender made an excellent estimate; was equal to actual closing costs (option A)
<h3>How do you know what the lender's estimate was?
</h3>
Based on the information provided, the lender estimated that the closing cost is equal to 3% of the $ 180,000 loan. To calculate that value we must do the following operation:
- $ 180,000 / 100 x 3% = $ 5,400.
Based on the above, the estimated closing cost for that loan is $ 5,400.
<h3>How to know the real cost of closing the loan?
</h3>
To know the real cost of the loan closing we must add the following values:
- Closing Cost Charge Loan origination $ 345
- Title insurance $ 600
- Attorney's fees $ 1,350
- Appraisal $ 480
- Inspection $ 550
- Recording fees $ 175
- Escrow $ 1,900
$ 1,900 + $ 175 +% 550 + $ 480 + $ 1,350 + $ 600 + $ 345 = $ 5,400.
According to the above, the lender made a very precise estimate because his calculation hit the exact value of the closing cost (option A)
Learn more about lender in: brainly.com/question/3268275
Answer: 36
Step-by-step explanation:
Answer:
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Step-by-step explanation:
