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30 August, 02:58

A lender estimates the closing costs on a home loan of $90,000 as listed below. Closing Cost Charge Loan origination $180 Title insurance $365 Attorney's fees $795 Inspection $300 Recording fees $120 Escrow $980 The actual closing costs were: Closing Cost Charge Loan origination $180 Title insurance $340 Attorney's fees $830 Inspection $375 Recording fees $150 Escrow $1,000 Evaluate the lender's good faith estimate as a percentage of the loan amount.

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  1. 30 August, 06:00
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    The answer would be,

    a. The lender made a very good estimate; it was within 0.25% of the actual closing costs.
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