Hunter and Emily just received the phone call from their realtor that their offer on a new home was accepted! They are excited to move from being renters to homeowners but know that things will be tight since it took all their savings for a 15% down payment on a $400,000 home. Costs are adding up, and they are starting to get anxious. The Canada Mortgage Housing Corporation (CMHC) mortgage loan insurance premium is 2.80% of the mortgage amount which they have decided to pay at the time of closing instead of adding it to their monthly mortgage. Other fees include a $255 loan application fee, a $450 appraisal fee, a $775 home inspection fee, $765 in notary fees and $5,550 land transfer tax (sometimes known as the "Welcome tax" or "Transfer duties") and $860 for title insurance and homeowner's insurance of $1,200. How much will Hunter and Emily need to cover at closing including the down-payment? $76,950 $76,390 $75,100 $79,375 O $77,775