A loan commitment of $4.26 million with an up-front fee of 60 basis points and a back-end fee of 50 basis points. The take-down on the loan is 60 percent. Calculate the total fees you will pay on this loan commitment.
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A loan commitment of $4.26 million with an up-front fee of 60 basis points and a back-end fee of 50 basis points. The take-down on the loan is 60 percent.
Calculate the total fees you will pay on this loan commitment.
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