Posted by Marcos on July 22, 2002 at 11:50:22:
Why not just do a flat amount? I mean I doubt it makes a whole lot of difference one way or another. Think about it.
$100,000 Home purchase at 10% down(not that anyone ever puts this much down anymore).
6% of Purchase Price = $6,000
6% of Loan Amount = $5,400
But, I think in reality, it’s going to be closer to 5% down, and you’ll end up saving $300. I just don’t see the issue.
I would just offer a flat fee if you’re that worried about it. Hey, I’ll give you $3,000 towards your closing on a $100k house.