Real Estate MathMixed_practiceEASY
A buyer purchases a home for $375,000 with a 20 percent down payment. The lender charges 2 points on the loan amount. How much does the buyer pay in points?
Correct Answer
D) $6,000
Down payment = $375,000 × 20% = $75,000. Loan amount = $375,000 - $75,000 = $300,000. Points = $300,000 × 2% = $6,000.
Answer Options
A
$7,500B
$15,000C
$3,750D
$6,000Why 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:
pointsloan_amountclosing_costscalculationreal_estate_math
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