The additional cash must the buyer bring to closing is $14,750
What is the total cash required by the buyer at closing?
The total cash required by the buyer at closing is the buyer's closing costs plus down payment which is 15% of the house selling price.
The down payment required is 15% because the lender has agreed to lend 85% of the asset value as the mortgage, hence, down payment is computed thus:
down payment=15%*$112,500
down payment=$16,875
total cash needed=$16,875+$4,375
total cash needed=$21,250
additional cash required=total cash needed-cash saved
additional cash required=$21,250-$6,500
additional cash required=$14,750
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