A buyer is purchasing a home for $289,000. With 20% down. The lender will charge 2 points on the loan and $85 for a credit check. The attorney fees will be $375. The buyer has given an earnest money deposit to the title company of $3,000. There is a transfer tax on real estate and the rate is $1.50 per hundred. The property taxes are unpaid and will be prorated using a 360-day year. Annual taxes are $6,000. Closing is set for October 5th and the seller will pay for closing day. How much will the buyer owe at closing? (Round all answers to the nearest dollar.)

Question

01-11-2021
Mathematics

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A buyer is purchasing a home for $289,000. With 20% down. The lender will charge 2 points on the loan and $85 for a credit check. The attorney fees will be $375. The buyer has given an earnest money deposit to the title company of $3,000. There is a transfer tax on real estate and the rate is $1.50 per hundred. The property taxes are unpaid and will be prorated using a 360-day year. Annual taxes are $6,000. Closing is set for October 5th and the seller will pay for closing day. How much will the buyer owe at closing? (Round all answers to the nearest dollar.)

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