Maria takes out a 30-year mortgage at 5.5% to buy a house that costs $280,00. She must have a down payment of 3% of the purchase price. How much does she need for the down payment? The downpayment is...

Maria takes out a 30-year mortgage at 5.5% to buy a house that costs $280,00. She must have a down payment of 3% of the purchase price. How much does she need for the down payment? The downpayment is money towards the purchase price. How much money does Maria need to borrow? When she closes on the Loan, Maria is required to bring her down payment, pay a 1% loan origination fee and pay additional costs of $900. How much money does Maria need for closing costs?