Under the real property loan law, the maximum amount a borrower can pay for closing costs, excluding commission, regardless of t

Question

skelet666 [1.2K]

4 years ago

6

Under the real property loan law, the maximum amount a borrower can pay for closing costs, excluding commission, regardless of t

he size of the loan, is:

Business

1 answer:

Angelina_Jolie [31] · Answer 1 · 2021-12-29T04:13:09+03:00

The correct answer to this question is that:
<span>Under the real property loan, the maximum amount a borrower can pay for closing costs is $700. </span>
<span>
The law states that the amount shall not exceed 5% of the principal amount of the loan or $390, whichever is greater but not exceeding $700.</span>