Real Estate Math
A NH buyer is charged a 1.5% origination fee on a $290,000 loan, plus $450 in processing fees and $250 in underwriting fees. What are the total lender fees?
A$5,050✓ Correct
B$4,350
C$4,700
D$5,200
Explanation
Origination fee = 1.5% × $290,000 = $4,350. Total = $4,350 + $450 + $250 = $5,050. To solve this, multiply the relevant values: $290,000 and $450 at 1.5%.. The correct answer is $5,050.. This is a common calculation on the New Hampshire real estate exam.
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