Brooke bought a condominium for $413,600. She made a 9% down payment and financed the remaining amount using a 25-year

Brooke bought a condominium for $413,600. She made a 9% down payment and financed the remaining amount using a 25-year fixed-rate mortgage at 5.2%. The monthly payment is $2,244. Brooke will pay for one discount point, a 0.75% origination fee, the brokerage fee, state documentary taxes on the deed and the mortgage, and the intangible tax. • Discount points equal 1% of the mortgage amount. Documentary stamp tax on deed is $0.70 per $100 or portion thereof. • Documentary stamp tax on mortgage is $0.35 per $100 or portion thereof. • Mortgage broker fee is $175 plus 5% of the mortgage amount. • Intangible tax is 0.2% of the mortgage amount. What is the total amount of the principal, interest, down payment, and fees described for Brooke’s condominium? (4 points) $743,687.00 $807,569.73 $481,369.73 $740,969.73


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