Owen is closing a real estate transaction on a farm in Yocona, Mississippi, for $385,900. His mortgage holder requires a 25% down payment and he also must pay $60.00 to record the deed, $ 1 (X) in attorney's fees for document preparation, and $350 for an appraisal report. Bob will also have to pay a 1.5% loan origination fee. Bob chooses a 35-year mortgage at 3.75%.
(a) How much cash will Bob need to close on the property?
(b) How much will Bob's mortgage l?
(c) What is Bob's monthly payment on the property?