Real Estate Math
A Minnesota closing costs budget estimates 2.5% of the loan for buyer closing costs. On a $250,000 loan, approximately how much should the buyer budget?
A$5,000
B$6,250✓ Correct
C$4,500
D$7,500
Explanation
Estimated closing costs = Loan Amount x 2.5% = $250,000 x 0.
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