Chuck obtained a mortgage of $90,000 to finance a $120,000 home. The title search will be $400, appraisal fee $500, application fee $900, and he will pay 1% origination fee. How much are his closing costs?
A) $900
B) $1,800
C) $2,700
D) $3,000
Answer: C
Explanation: C)
Title search $400
Appraisal fee $500
Application fee $900
Origination fee ($90,000 × 0.01) $900
$2,700
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