Closing Costs

Mortgage loan of $50,000. What are the total closing costs?

Mortgage loan of $95,000. What are the total closing costs?

Mortgage loan of $271,000. What are the total closing costs?

Mortgage loan of $420,000. What are the total closing costs?

Carly has been granted a mortgage loan at an annual interest rate of 5.5 percent for 15 years. The home has a selling price of $175,000 and they need a 20 percent down payment. The bank will allow them to finance the closing costs as part of the mortgage. The total closing costs are 3.5 percent of the mortgage. What is the actual amount financed with the mortgage?

Brenda and Allan are interested in purchasing a $60,000 home. They plan to make a 20 percent down payment and finance the remaining amount through Peabody Savings Association. Peabody Savings has these closing costs: credit report, $80; appraisal report, $255; title insurance, $190; survey and photographs, $325; recording fee, $65; legal fees, $280; and property taxes, $789. If the loan is approved, how much cash will the couple need to secure the loan, including the down payment?