Question

The lost below shows the closing costs on a home loan amount $185,000

Closing cost | Charge
Loan origination | $275
Title insurance | $528
Attorney’s fees | $750
Appraisal | $275
Recording fees | $121

If the buyer also paid a 3% real estate agent commission, what was the total amount paid at closing?

A. $2,499
B. $5,550
C. $6,499
D. $7,499

Answer 1

I got 7,499.
275+528+750+275+121+(0.03)*185000 = 7499

To explain, I added all the fees first and then took 3%, or 0.03, of 185000 for the commission. I finally added that as well to the original fees to get the final answer.

I hope this helped!