Use the closing costs to calculate the (a) total closing costs and (b) total amount of the mortgage if the closing costs are financed. Jack and Dina King purchase a home with a mortgage loan of $420,000.$

$$\begin{array}{c}\\ \text{Closing Cost}\\ \begin{array}{|l|c|} \hline \text { Application Fee } & \$ 252 \\ \hline \text { Borrower's Credit Check } & 65 \\ \hline \text { Points } & 2.00 \% \text { of Mortgage } \\ \hline \text { Appraisal Fee } & \$ 325 \\ \hline \text { Title Search } & 212 \\ \hline \text { Title Insurance } & 410 \\ \hline \text { Inspection } & 350 \\ \hline \text { Attorney Fee } & 450 \\ \hline \text { Documentation Stamp } & 0.30 \% \text { of Mortgage } \\ \hline \text { Processing Fee } & 1.10 \% \text { of Mortgage } \\ \hline \end{array} \end{array}$$

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Use the closing costs to calculate the (a) total closing costs and (b) total amount of the mortgage if the closing costs are financed. Vincent and Sue Helmsley buy a home with a mortgage loan of $120,000.$

$$\begin{array}{c}\\ \text{Closing Cost}\\ \begin{array}{|l|c|} \hline \text { Application Fee } & \$ 252 \\ \hline \text { Borrower's Credit Check } & 65 \\ \hline \text { Points } & 2.00 \% \text { of Mortgage } \\ \hline \text { Appraisal Fee } & \$ 325 \\ \hline \text { Title Search } & 212 \\ \hline \text { Title Insurance } & 410 \\ \hline \text { Inspection } & 350 \\ \hline \text { Attorney Fee } & 450 \\ \hline \text { Documentation Stamp } & 0.30 \% \text { of Mortgage } \\ \hline \text { Processing Fee } & 1.10 \% \text { of Mortgage } \\ \hline \end{array} \end{array}$$

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Use the closing costs to calculate the (a) total closing costs and (b) total amount of the mortgage if the closing costs are financed. Jeremy Roberts purchases a condo with a mortgage loan of $50,000.$

$$\begin{array}{c}\\ \text{Closing Cost}\\ \begin{array}{|l|c|} \hline \text { Application Fee } & \$ 252 \\ \hline \text { Borrower's Credit Check } & 65 \\ \hline \text { Points } & 2.00 \% \text { of Mortgage } \\ \hline \text { Appraisal Fee } & \$ 325 \\ \hline \text { Title Search } & 212 \\ \hline \text { Title Insurance } & 410 \\ \hline \text { Inspection } & 350 \\ \hline \text { Attorney Fee } & 450 \\ \hline \text { Documentation Stamp } & 0.30 \% \text { of Mortgage } \\ \hline \text { Processing Fee } & 1.10 \% \text { of Mortgage } \\ \hline \end{array} \end{array}$$

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Clark and Lindsay Banks have agreed to purchase a home for $225,000. They made a down payment of 15%. They haw obtained a mortgage loan at a 6.5% annual interest rate for 25 years. What is the mortgage total if they finance the closing costs?

Find the (a) monthly payment, (b) total amount paid, and (c) total interest charged. Charles and Sandy Compton: $80,000 mortgage at 6.5% for 25 years.

Find the (a) monthly payment, (b) total amount paid, and (c) total interest charged. Abigail and Curtis Siebert: $270,000 mortgage at 7% for 20 years.

Ellen and Tim Hinojosa reached an agreed-upon price of $140,000 for the purchase of a house. They made a 10% down payment and had two options for financing the remaining amount: at 5.5% for 25 years or at 6% for 20 years. Which mortgage results in a higher amount of interest paid and by how much?

Ralph and Cristi Sheen. Mortgage loan of $271,000. a. What are the total closing costs? b. What is the total amount of the mortgage if the closing costs are financed?

Find the (a) monthly payment, (b) total amount paid, and (c) total interest charged. Ivan and Vicki Egan have obtained a $160,000 mortgage loan at an annual interest rate of 7.5% for 20 years.

Higgins applied for a $\$ 320,000$ mortgage loan at an annual interest rate of $6.00 \%$. The loan is for $25$ years and will be paid in equal monthly payments that include interest. (a) What is the monthly payment using the figure on the said page? (b) What is the monthly payment using the formula?

Jeremy Roberts.
Mortgage loan of $50,000.
What is the total closing cost?

Jack and Dina King. Mortgage loan of $420,000. a. What are the total closing costs? b. What is the total amount of the mortgage if the closing costs are financed?

$$\begin{array}{|l r|} \hline \text{Credit report:} & \$45\\ \text{Loan origination fee:} & 2\% \text{ of mortgage loan}\\ \text{Abstract of title:} & \$120\\ \text{Attorney fee:} & \$250\\ \text{Documentation stamp:} & 0.3\% \text{ of mortgage}\\ \text{Processing fee:} & 1.10\% \text{ of mortgage}\\ \hline \end{array}$$

Use the list of closing costs in the example above to solve.

Ralph and Cristi Sheen. Mortgage loan of $271,000. What is the total closing cost?

Kyung Ja and Hideo Hakola have been granted a mortgage loan at an annual interest rate of 7.5 percent for 15 years by USA Mortgage. The home has a selling price of $105,000. They need a 10 percent down payment USA Mortgage will allow them to finance the closing costs as part of the mortgage. Use the table below to find the total closing costs. What is the actual amount financed with the mortgage?