Question

Helen is purchasing a home for $150,000 and provides a $2,500 earnest money check to the seller. She's financing the transaction, and her closing costs and down payment total $4,800. How much should Helen bring to the closing

Answer 1

Answer:

$ 2,300

Explanation:

Given that

Helena provides earnest money = 2500

Closing costs and down payments = 4800

Therefore

Amount helena should bring to the closing

= closing cost and down payments - initial amount paid

= 4800 - 2500

= $2300

Note that,

Earnest money is the money paid to a seller that represents the buyer's good faith. Earnest money is added to the buyer down payments and closing costs.