One point on an $80,000 loan for the purchase of a $110,000 home would equal
A) $100.
B) $800.
C) $1,000.
D) $1,100.
Correct Answer:
Verified
Q52: Adjustable rate loans
A)have less variability than flexible
Q53: The purpose of the title search is
Q54: A title search is conducted
A)at the closing.
B)before
Q55: A written document transferring ownership of the
Q56: In the terminology used by lenders,one "point"
Q58: Additional points on a home mortgage will
A)lower
Q59: Concerning an adjustable rate loan,which of statements
Q60: The mortgage contract rate
A)takes into account all
Q61: Negative amortization results when
A)the monthly interest payment
Q62: Private mortgage insurance
A)is typically required when the
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