A buyer is purchasing a property with a loan from a mortgage broker, who is...

90.2K

Verified Solution

Question

Algebra

image

A buyer is purchasing a property with a loan from a mortgage broker, who is charging an origination fee of 1%. If the loan requires a 90% LTV and the purchase price is$200,000, how much is the origination fee?A) $3,500B) $9,000C) $1,800D) $2,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

A buyer is purchasing a property with a loan from a mortgage broker, who is charging an origination fee of 1%. If the loan requires a 90% LTV and the purchase price is$200,000, how much is the origination fee?A) $3,500B) $9,000C) $1,800D) $2,000

Other questions asked by students