_____ are the expenses that borrowers pay during the final step of a real estate purchase.
A) Amortization costs
B) Closing costs
C) Property taxes
D) Insurance costs
E) Mortgage interest expenses

Question

Quizplus · Accepted Answer

Closing costs are the expenses that borrowers pay during the final step of a real estate purchase, which may include fees for appraisals, title searches, attorney services, and loan origination. Amortization costs are the gradual repayment of a loan over time, property taxes are ongoing annual expenses, insurance costs refer to the payments made for property insurance, and mortgage interest expenses are the interest payments made on a loan over its term.

_____ Are the Expenses That Borrowers Pay During the Final