Robert and Tiara Jordan have agreed to purchase a house whose selling price is $160,000.00. They have agreed to make a down payment of 20%, and finance the remainder with a mortgage loan from Ironwood Bank. Their closing costs consist of: a $175.00 appraisal fee, $280.00 for a title search, $685.00 in legal fees, and a loan origination fee, which is 2% of their mortgage.
Asked May 17, 2010
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