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1 year ago

THE NICHOLS ARE BUYING A HOUSE SELLING FOR $245,000. THEY PAY A DOWN

1 answer:

3 0

The amount of the mortgage on this house is given as $300000, while the 1.5 points on the house is given as 3000 dollars

<h3>How to solve for the mortgage that is on this house</h3>

The data from the questions says that the cost of the house = $245000

The down payment amount amount is 45000

Given that they already paid 45000 from the cost of the house, the mortgage would be 245000 - 45000

= $200000

The cost of 1.5 points is the same as the cost of 1.5% of the mortgage of this house.

This is calculated as 0.015 x 200000

= $3000

The conclusion is that the amount of the mortgage on this house is given as $300000, while the 1.5 points on the house is given as 3000 dollars

Read more on mortgage here: brainly.com/question/1318711

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