The price of a home is 240,000. The bank requires a 20% down payment and two points at the time of closing. The cost of the home

Question

3 years ago

9

The price of a home is 240,000. The bank requires a 20% down payment and two points at the time of closing. The cost of the home

is financed with a 30 year fixed rate mortgage at 7%. Find the amount of the mortgage. How much must be paid for the two points at closing?

Mathematics

1 answer:

xenn [34] · Answer 1 · 2022-08-14T15:53:50+03:00

xenn [34]3 years ago

8 0

The price of a home is $131,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 30 year fixed rate mortgage at 7%