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14. One-time fees for home purchases were discussed in this class. You must refer to this lesson to obtain values needed for the following question:
14. One-time fees for home purchases were discussed in this class. You must refer to this lesson to obtain values needed for the following question: Mona has $40 000 for a down payment on a house that is selling for $325 000. In addition to payment for the house there are other fees she must pay: Before putting an offer on the house, she got a home inspection For the mortgage, the bank required an appraisal Her land transfer tax was exactly $4050 Her legal fees were the higher of the two values reported in the notes . 0 How much of a mortgage does Mona require? Show work. (1 mark) Answer: 3 MARKS
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