in the chart, closing costs refers to the
The chart shows the costs associated with the purchase of
a new home.
Components
Cost
cost of making repairs to the new home.
fees that must be paid to local schools.
costs associated with obtaining the loan.
fees assessed by the state or local government.
Principal after down
payment
$240 000
Origination fee
$1 200
Closing costs
$4800
Total principal
$246.000
Additional taxes
$4.000