Sarah Wood and her husband have agreed to purchase a house for $87,500.00. Washington Savings and Loan is willing to finance the

Question

4 years ago

11

purchase but requires a $5,000.00 down payment and closing costs of 3 percent of the amount of the mortgage loan. What are the total closing costs?

1 answer:

Romashka [77] · Answer 1 · 2021-11-15T22:22:32+03:00

4 0

Answer:If there is a $5,000 deposit, that means the amount to be mortgaged is $82,500. Calculating 3% of that amount:

Step-by-step explanation:If there is a $5,000 deposit, that means the amount to be mortgaged is $82,500. Calculating 3% of that amount: