Question

Closing costs are calculated based on _____. loan amount minus down payment down payment made selling price of the house selling price of the house minus down payment

Answer 1

Closing costs are calculated based on price of the house minus down payment

Step-by-step explanation

Closing costs are either brought as cash to closing or financed into a loan.They are usually used when people buy or rent properties and the closing cost is the amount a person pays based on the down payment. To estimate the closing cost, you subtract the down payment from the purchase price of the home.