Real Estate Math
A Tennessee buyer purchases a home for $315,000 with a 10% down payment. The lender charges 0.5% origination fee. What is the origination fee amount?
A$1,417.50✓ Correct
B$1,575
C$3,150
D$315
Explanation
Loan amount = $315,000 × 90% = $283,500. Origination fee = $283,500 × 0.
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