Brooke bought a condominium for $413,600. She made a 9% down payment and financed the remaining amount using a 25-year fixed-rate mortgage at 5.2%. The monthly payment is $2,244. Brooke will pay for one discount point, a 0.75% origination fee, the brokerage fee, state documentary taxes on the deed and the mortgage, and the intangible tax. Discount points equal 1% of the mortgage amount.
Documentary stamp tax on deed is $0.70 per $100 or portion thereof.
Documentary stamp tax on mortgage is $0.35 per $100 or portion thereof.
Mortgage broker fee is $175 plus 5% of the mortgage amount.
Intangible tax is 0.2% of the mortgage amount.
What is the total amount of the principal, interest, down payment, and fees described for Brooke's condominium?
a.$743,687.00
b.$807,569.73
c.$481,369.73
d.$740,969.73