If the lender's good faith estimates are accurate, are they a reasonable amount for closing costs? Why or why not?

a.

Yes, because the lender esitmated 3.08% of the home loan in closing costs which falls between 3 - 5%.

b.

Yes, because the lender estimated 4.6% of the home loan in closing costs which does not fall between 3 - 5%.

c.

No, because the lender estimated 6.2% of the home loan in closing costs which does not fall between 3 - 5%.

d.

No, because the lender estimated 17.7% of the home loan in closing costs which does fall between 3 - 5%.

Question

Mathematics

Dalia Montes

29 April, 17:37

If the lender's good faith estimates are accurate, are they a reasonable amount for closing costs? Why or why not?

a.

Yes, because the lender esitmated 3.08% of the home loan in closing costs which falls between 3 - 5%.

b.

Yes, because the lender estimated 4.6% of the home loan in closing costs which does not fall between 3 - 5%.

c.

No, because the lender estimated 6.2% of the home loan in closing costs which does not fall between 3 - 5%.

d.

No, because the lender estimated 17.7% of the home loan in closing costs which does fall between 3 - 5%.

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Answers (1)

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Atkins · Answer 1

If the lender's good faith estimates are accurate, are they a reasonable amount for closing costs?

No, because the lender estimated 17.7% of the home loan in closing costs which does fall between 3 - 5%

The answer is letter D