Answer:
The purchases cost for the new home is $ 300,000 out of which you can a down payment of $ 50,000 and the remaining amount you take a loan.
Step-by-step explanation:
Answer:
Zooey bought a home for $300,500. She is using a 25-year fixed-rate mortgage at 6.2%. She made a 10% down payment and financed the remaining amount using a 25-year fixed-rate mortgage at 6.2%. Zooey will pay for one discount point, and the brokerage fee of 7% of mortgage amount.
The documentary stamp tax is $1,051.75.
The cost for purchasing one point $3005.
The brokerage fee of 7% is $21035.
