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Chuck Obtained a Mortgage of $90 000 to Finance a $120

Question 78

Multiple Choice

Chuck obtained a mortgage of $90 000 to finance a $120 000 home.The title insurance will be $400,appraisal fee is $500,land transfer tax is one percent of the value of the property,legal fees are $900,and he will pay $900 to the movers and has planned to send $6000 on renovations.How much are his closing costs?


A) $1800
B) $3900
C) $2100
D) $3000

Correct Answer:

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