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

Braden Davenport

Mathematics

6 August, 15:01

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%.

+1

Answers (1)

Know the Answer?

Kaylah Benson · 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