Chapter 8 Mortgage Loans Use: Time Value of Money (TMV) keys Consider a $50,000 mortgage at 3.5% for 15 years. The closing costs are as follows: origination fee is % of the mortgage, zero points, mortgage insurance of $411, appraisal fee of $520, inspection fees of $100, title insurance fee of $750, recording fees of $85 and an escrow deposit of $735. What is the Real APR? Round to the nearest hundredth of a percent