Questr Your client took a $750,500 mortgage with ABC lender Inc. The mortgage now has an outstanding balance of 600,500 . Down payment must show 1.5% of purchase price fore closing cost in bank account. Based on this how much of lump sum preparment can client make? a) $120,100 b) $150,100 c) $120,000 d) $150,00 John is a mortgage agent whose brother has recently run into some finandal dificaliy tecause he has bog his job. His brother has no savings and needs money to pay his monthly bills buy food, etc. He oners tos own home with approximately 35% equity and is asking john to refinance his house john televes touthe can afford to make his brother's payments until his brother finds another job, but also hons taktewem qualify if he goes on the mortgage with his brother. John feels that he can get this mortgso aperoed by lender using the lender's stated income program because the lender will not require proof di hane Gien this scenario which of the following statements is correct? Select one; a. John's brother has enough equity to be able to afford the payments so pohn should arrange this mortgage b. Because this mortgage doesn't require proof of income john should arrange ths moregse c. Because john will make the payments for his brother he should arrange this mortage d. Arranging this mortgage will require john to commit fraud so he should not arrange tis moregse