Total Mortgage
1. **State the problem:** Calculate the total mortgage amount for a $180,000 home purchase with a 10% down payment and given closing costs.
2. **Calculate the down payment:**
The down payment is 10% of $180,000.
$$\text{Down payment} = 0.10 \times 180000 = 18000$$
3. **Calculate the loan amount before closing costs:**
Subtract the down payment from the purchase price.
$$\text{Loan amount} = 180000 - 18000 = 162000$$
4. **Calculate each closing cost:**
- Credit Report: $300
- Loan origination fee: 1% of loan amount
$$0.01 \times 180000 = 1800$$
- Attorney and notary: $500
- Documentation stamp: 0.50% of purchase price
$$0.005 \times 180000 = 900$$
- Processing Fee: $600
5. **Sum all closing costs:**
$$300 + 1800 + 500 + 900 + 600 = 4100$$
6. **Calculate total mortgage:**
Add loan amount and closing costs.
$$162000 + 4100 = 166100$$
**Final answer:** The total mortgage amount is $166100.