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Consider these facts: David and Karen want to buy a house for $ 3 5 0 , 0 0 0 and they have 2 0

Consider these facts: David and Karen want to buy a house for $350,000 and they have 20% to pay down plus all required closing costs and fees. They apply for a loan from Bank of Oklahoma (BOK) in the amount of $280,000
. The loan is approved for 30 years at 3.75%.
a. What is the loan payment amount?
b. If BOK sells the loan to Wells Fargo on the same day the loan is originated at a yield to Wells-Fargo of 3.30%, what will Wells-Fargo have to pay BOK for the loan?
c. What is BOKs gross profit on this sale transaction to Wells-Fargo?

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