A lender estimates the closing costs on a home loan of $90,000 as listed below. closing cost charge loan origination $180 title in

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. a. the lender made a very good estimate; it was within 0.25% of the actual closing costs. b. the lender made a fairly good estimate; it was between 0.25% and 0.5% from the actual closing costs. c. the lender made a somewhat poor estimate; it was between 0.25% and 0.5% from the actual closing costs. d. the lender made a very poor estimate; it was between 0.5% and 0.75% from the actual closing costs.

2 thoughts on “A lender estimates the closing costs on a home loan of $90,000 as listed below. closing cost charge loan origination $180 title in”

  1. Answer:
    is D. the lender made a very poor estimate; it was between 0.5% and 0.75% from the actual closing cost
    Step-by-step explanation:
    I saw the answer on quizlet

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  2. Based on the details above, the lender’s good faith estimate is one that is within 0.25% of the actual closing costs.

    What is good faith estimate?

    A Good Faith Estimate commonly referred to as GFE, is known to be a kind of situation where a lender is given to a person  as one request or apply for a  form of reverse mortgage.
    Note that the Lenders often needs a Good Faith Estimate (GFE) for about a period of three business days one getting the loan application. This will explain your loan terms and costs linked with the loan.
    From the above, , the lender’s good faith estimate is one that is within 0.25% of the actual closing costs and thus can tell the costs linked with the loan.
    Learn more about good faith  from

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