The sales price is $185,000.
The down payment is 5% of this, that is;
[tex]\frac{5}{100}\times185,000=\text{ \$9250}[/tex]The closing cost is 3% of the sales price, that is;
[tex]\frac{3}{100}\times185,000=\text{ \$5550}[/tex]The remaining cash left to pay is;
[tex]5550+175750=\text{ \$181,300}[/tex]This, would be on interest for 30 years;
so, the total loan amount is;
[tex]181,300+\frac{181,300\times5.4\times30}{100}=181,300+293,700=\text{ \$475,000}[/tex]Therefore, the loan amount is $475,000
