Real Estate MathLoan_and_interest_calculationsHARD
A lender offers a $320,000 loan. The borrower must pay a 1% origination fee plus 1.5 discount points. What is the total upfront cost of these fees?
Correct Answer
C) $8,000
Step 1: Origination fee = $320,000 × 1% = $3,200. Step 2: Discount points = $320,000 × 1.5% = $4,800. Step 3: Total = $3,200 + $4,800 = $8,000.
Answer Options
A
$3,200B
$4,800C
$8,000D
$6,400Why This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Real Estate Math Question
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Background Knowledge for Real Estate Math
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Real World Application in Real Estate Math
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Related Topics & Key Terms
Key Terms:
loan_and_interest_calculationsorigination_feepointsfinancing_math
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