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Becca is financing a house for $125,250. She has to pay $425 plus 1.25% for a brokerage fee. How much are the mortgage brokerage fees? $1,990.63 $3,556.25 $581.56 $1,565.63
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Becca is financing a house for $125,250. She has to pay $425 plus 1.25% for a brokerage fee.

How much are the mortgage brokerage fees?

$1,990.63

$3,556.25

$581.56

$1,565.63

User Ivan Balashov
by
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1 Answer

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For the brokerage fee, she has to pay 1.25% of the finance for the house with an additional $425. Expressing that into an equation would be,

Brokerage fee = 1.25%(Finance fee) + $425
Brokerage fee = 0.0125($125,250) + $425
Brokerage fee = $1990.63

The answer is A.
User Selvarajmas
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