Anthony's statement of expenses for his new home purchase to be paid at the time of...

Anthony's statement of expenses for his new home purchase to be paid at the time of closing is summarized as follows: Mortgage-related costs: $1460 Home inspection fee: $310 Escrows: $3750 Title search: $460 Title insurance: $1550 Real estate commission: $11550 Attorney's fee: $500 (seller) and $560 (buyer) Closing charge: $250 (buyer and seller each) What amount will Anthony have to pay at the time of closing?

Expert Solution

Answer : 8340

Closing costs include charges like the loan origination fee, mortgage points, , home inspection fee, appraisal fee, loan processing fee, application fee, title insurance and escrow fees, etc.

Anthony pay at time of closing =

Mortgage related cost : 1460

Home inspection fee : 310

Escrow fees : 3750

Title search : 460

Title insurance : 1550

Attorney fees : 560

Closing charge : 250

Total = 8340

Note : Real estate commission is not included in closing cost.

ekkarill92 answered 2 years ago

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