FinanceCâu 79 / 120
Discount points paid to a lender at closing are typically used to:
a.Increase the loan amount
b.Pay the real estate commission
c.Buy down (lower) the loan's interest rate
d.Cover the appraisal fee only
Giải thích
Discount points are prepaid interest paid to reduce the loan's interest rate, with one point equal to 1% of the loan amount. Paying points can lower monthly payments over the life of the loan.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A loan that is insured by the Federal Housing Administration is called a(n):
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- The Real Estate Settlement Procedures Act (RESPA) primarily regulates:
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