From the Borrower's Perspective, the Effective Borrowing Cost Is Often

Multiple Choice

From the borrower's perspective, the effective borrowing cost is often viewed as the implied internal rate of return (IRR) , since it takes into consideration costs that the borrower faces, but which are not passed on as income to the lender. Included in this calculation are certain closing costs, which may consist of all of the following EXCEPT:

A) Title insurance
B) Mortgage insurance
C) Recording fees
D) Earnest money