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Svetllana [295]
3 years ago
15

A lender estimates the closing costs on a home loan will be 3.75% of the loan amount of $120,000. The actual closing costs are l

isted below.
Evaluate the lender’s good faith estimate.
a.
The lender made an excellent estimate; it was equal to the actual closing costs.
b.
The lender made a very good estimate; it was within 0.25% of the actual closing costs.
c.
The lender made a fairly good estimate; it was between 0.25% and 0.5% of the actual closing costs.
d.
The lender made a poor estimate; it was off by more than 0.5% of the actual closing costs.
Social Studies
2 answers:
Nikitich [7]3 years ago
7 0

The answer is c.

Hope this helps!

N76 [4]3 years ago
5 0

the answer is d. the lender made a poor estimate; it was off by more than 0.5% of the actual closing costs. :)

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This is further explained below.

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