Finance第 79 / 120 题
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
解析
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.
免费刷完整 120 道题库 — 无需注册。
同考点相关题目
- A loan that is insured by the Federal Housing Administration is called a(n):
- A key benefit of a VA-guaranteed loan for eligible veterans is that it:
- In an adjustable-rate mortgage (ARM), the interest rate is periodically adjusted based on a specified:
- The federal law that requires lenders to disclose the annual percentage rate (APR) and total finance charges to consumers is the:
- The Real Estate Settlement Procedures Act (RESPA) primarily regulates:
- Foreclosure under a Texas deed of trust with a power-of-sale clause is often carried out through: