Bill Smoss buys a chalet for $285,000 in the White Mountains of New Hampshire. He puts down $15,000. At the time of closing, he must pay in addition 3 points. In dollars what does that represent in regard to the points?

Name: Bill Smoss buys a chalet for $285,000 in the White Mountains of New Hampshire. He puts down $15,000. At the time of closing, he must pay in addition 3 points. In dollars what does that represent in regard to the points?
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

$285,000 - $15,000 = $270,000; $270,000 × .03 = $8,100.

Bill Smoss Buys a Chalet for $285,000 in the White