1.

Shayla is financing a house for $126,750. She has to pay $450 plus 1.15% for a brokerage fee. How much are the mortgage brokerage fees? (2 points)

	$2,351.25
	$1,907.63
	$1,457.63
	$595.76

2.

Franklin is purchasing a home for $82,107 and is financing 80% of it. The documentary stamp tax on the deed in his state is $0.70 per $100 or portion thereof. How much will he pay for the documentary stamp tax? (2 points)

	$1,172.90
	$938.30
	$575.40
	$459.70

3.

Lillia and Ryan have signed a contract to purchase a home. The closing date is May 27, and the buyer owns the property on the day of closing. The selling price of the home is $872,500. Lillia and Ryan obtained a fixed-rate mortgage from a bank for $695,000 at 7.25% interest. The seller has already paid $15,078.15 in property taxes for the coming year. How much will Lillia and Ryan owe in prorated expenses? (3 points)

	$9,046.89
	$9,737.14
	$30,232.95
	$65,466.40

4.

Jerry is purchasing a condominium for $325,500 and has financed 90% of it. He has purchased 3 discount points, has to pay a 1.65% origination fee and a brokerage fee of $100 plus 0.25% of the loan. What are his total fees that he must pay? (2 points)

	$15,461.25
	$16,293.64
	$14,454.56
	$15,317.13

5.

Create your own scenario of purchasing a home and include the mortgage amount. Solve for each calculation below and show your work.

1. Calculate the documentary stamp tax on the mortgage if this fee in your state is $0.35 per $100 or portion thereof.
2. Determine how many mortgage points will be purchased and calculate the cost.
3. Determine the mortgage broker fee and calculate the cost.

(6 points)