Ernest is purchasing a $175,000 home and is making a 20% down payment toward the cost. He is also buying 2 points in order to lower his interest rate. The appraisal fee is $400, the title is $300, and

Ernest is purchasing a $175,000 home and is making a 20% down payment toward the cost. He is also buying 2 points in order to lower his interest rate. The appraisal fee is $400, the title is $300, and the processing fee is $575. Including the down payment, what are his total closing costs?

A. $37,246
B. $33,143
C. $32,315
D. $39,075

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Ernest is purchasing a $175,000 home and is making a 20% down payment toward the cost. He is also buying 2 points in order to lower his interest rate. The appraisal fee is $400,…

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