After accounting for a buyer's settlement costs of $8,300 and a good-faith deposit of $8,000, how much is due at closing for a $250,000 home with a 70% loan?

To determine the amount due at closing for a $250,000 home with a 70% loan, we first need to calculate the total amount that the buyer will need to pay upfront.

1. Identify the Loan Amount: A loan covering 70% of the home's price means the buyer is borrowing 0.70 x $250,000, which equals $175,000.

2. Down Payment Calculation: Since the loan covers 70% of the purchase price, the buyer must provide the remaining 30% as a down payment. This down payment is 0.30 x $250,000, which equals $75,000.

3. Settlement Costs: The buyer has additional settlement costs of $8,300.

4. Total Due at Closing: To determine the total amount due at closing, we need to account for the down payment and the settlement costs. The down payment is $75,000, and adding the settlement costs of $8,300 results in $75,000 + $8,300 = $83,300.

5. Subtract Good-Faith Deposit: The buyer has already made a good-faith deposit of $8,000. This deposit