What is the purchase money mortgage amount if a property sells for $200,000 with $25,000 down payment, $11,000 in closing costs, and $25,500 for other expenses?

To determine the purchase money mortgage amount, first, we need to calculate the total amount that the buyer will need to finance after making the down payment and accounting for closing costs and other expenses.

The sale price of the property is $200,000, and the buyer makes a down payment of $25,000. This means the remaining amount that must be financed would start from the sale price and deduct the down payment:

[

\text{Amount after down payment} = \text{Sale price} - \text{Down payment} = 200,000 - 25,000 = 175,000

]

Now, we also need to consider the closing costs and other expenses. The closing costs are $11,000 and the other expenses amount to $25,500. The buyer will typically need to cover these expenses in addition to the down payment, and they can be included in the mortgage amount if the borrower finances them.

To find the total expenses that need to be covered by the mortgage, we add the closing costs and other expenses together:

[

\text{Total expenses} = \text{Closing costs} + \text{Other expenses} = 11,000 + 25,500 = 36