Multiple Choice
Pat bought a home for $75,000. He put up $5,000 earnest money and secured an 80% loan. The bank charged four points and a 2.5% loan fee. Pat received a $900 credit from the proration of taxes. How much cash will he need to bring to close this transaction?
A) $13,000
B) $13,900
C) $13,975
D) $18,000
Correct Answer:
Verified
Correct Answer:
Verified
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