Points represent:
A) 2% of the amount of the loan
B) Monthly payments
C) An additional cost of receiving the mortgage
D) 3% up-front payment
E) None of these
Correct Answer:
Verified
Q30: Stu Reese has a $150,000 7 1/2%
Q31: Bill Moore took out an $80,000 mortgage
Q32: Lizzy Clar bought a home for $160,000,
Q33: Ben Brown bought a home for $225,000.
Q34: Abby's monthly payment is $781.60 per month.
Q36: The difference between the monthly payments on
Q37: Bill's monthly payment is $1,056 per month.
Q38: Megan Mei is charged 2 points on
Q39: Graduated payments result in the borrower paying:
A)More
Q40: A variable rate mortgage means:
A)The interest rate
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